Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,472,875 shares of the semiconductor company’s stock after buying an additional 4,600 shares during the quarter. Swiss National Bank owned approximately 0.30% of Analog Devices worth $339,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ADI. Price T Rowe Associates Inc. MD lifted its stake in Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the last quarter. Capital International Investors lifted its stake in Analog Devices by 14.3% during the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after purchasing an additional 644,945 shares during the last quarter. Van ECK Associates Corp lifted its stake in Analog Devices by 17.3% during the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after purchasing an additional 700,862 shares during the last quarter. American Century Companies Inc. lifted its stake in Analog Devices by 21.4% during the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after purchasing an additional 767,534 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Analog Devices by 5.3% during the second quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after purchasing an additional 211,202 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at $879,365.43. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 over the last three months. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ADI shares. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Morgan Stanley raised their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Price Performance

NASDAQ:ADI opened at $206.35 on Friday. The business’s 50-day moving average price is $225.88 and its 200 day moving average price is $225.12. The firm has a market cap of $102.45 billion, a P/E ratio of 61.97, a PEG ratio of 2.89 and a beta of 1.08. Analog Devices, Inc. has a 52-week low of $178.66 and a 52-week high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.49 earnings per share. As a group, sell-side analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 110.51%.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.