Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Confluence Investment Management LLC

Confluence Investment Management LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 709,267 shares of the semiconductor company’s stock after acquiring an additional 4,792 shares during the period. Analog Devices comprises approximately 1.6% of Confluence Investment Management LLC’s portfolio, making the stock its 21st largest position. Confluence Investment Management LLC’s holdings in Analog Devices were worth $103,617,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in shares of Analog Devices during the fourth quarter worth $1,092,374,000. Baillie Gifford & Co. grew its stake in shares of Analog Devices by 473.2% during the first quarter. Baillie Gifford & Co. now owns 2,267,156 shares of the semiconductor company’s stock worth $374,488,000 after purchasing an additional 1,871,658 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Analog Devices by 13.7% during the first quarter. Wellington Management Group LLP now owns 9,338,263 shares of the semiconductor company’s stock worth $1,542,495,000 after purchasing an additional 1,125,178 shares in the last quarter. Comgest Global Investors S.A.S. grew its stake in shares of Analog Devices by 1,631.1% during the fourth quarter. Comgest Global Investors S.A.S. now owns 842,889 shares of the semiconductor company’s stock worth $148,155,000 after purchasing an additional 794,198 shares in the last quarter. Finally, Egerton Capital UK LLP boosted its stake in Analog Devices by 19.7% in the first quarter. Egerton Capital UK LLP now owns 3,728,676 shares of the semiconductor company’s stock valued at $615,903,000 after acquiring an additional 614,177 shares in the last quarter. Institutional investors and hedge funds own 85.22% of the company’s stock.

Analog Devices Trading Up 1.0 %

NASDAQ ADI opened at $149.31 on Monday. The stock has a market capitalization of $76.80 billion, a P/E ratio of 41.25, a P/E/G ratio of 1.29 and a beta of 1.16. Analog Devices, Inc. has a 52-week low of $138.50 and a 52-week high of $191.95. The firm has a 50-day moving average price of $161.92 and a 200 day moving average price of $158.67. The company has a quick ratio of 1.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADIGet Rating) last issued its earnings results on Wednesday, August 17th. The semiconductor company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. Analog Devices had a net margin of 17.00% and a return on equity of 11.92%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the business posted $1.72 earnings per share. The firm’s revenue for the quarter was up 76.8% compared to the same quarter last year. Equities research analysts expect that Analog Devices, Inc. will post 9.42 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Tuesday, August 30th were given a dividend of $0.76 per share. The ex-dividend date was Monday, August 29th. This represents a $3.04 annualized dividend and a yield of 2.04%. Analog Devices’s payout ratio is currently 83.98%.

Wall Street Analyst Weigh In

ADI has been the subject of several research analyst reports. Piper Sandler decreased their price objective on shares of Analog Devices from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, August 18th. Citigroup upped their price objective on shares of Analog Devices from $192.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Morgan Stanley decreased their price objective on shares of Analog Devices from $186.00 to $173.00 and set an “equal weight” rating for the company in a research note on Friday, June 10th. The Goldman Sachs Group decreased their price objective on shares of Analog Devices from $185.00 to $167.00 in a research note on Friday, July 15th. Finally, Raymond James decreased their price objective on shares of Analog Devices from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, August 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $196.61.

Insiders Place Their Bets

In other Analog Devices news, Director Tunc Doluca sold 2,400 shares of the company’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $150.00, for a total transaction of $360,000.00. Following the transaction, the director now directly owns 86,357 shares in the company, valued at $12,953,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Tunc Doluca sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $150.00, for a total transaction of $360,000.00. Following the sale, the director now owns 86,357 shares in the company, valued at $12,953,550. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Vivek Jain sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $165.63, for a total transaction of $2,318,820.00. Following the sale, the senior vice president now owns 18,271 shares in the company, valued at approximately $3,026,225.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,700 shares of company stock worth $8,827,200. 0.91% of the stock is owned by company insiders.

Analog Devices Profile

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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