NewEdge Advisors LLC Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

NewEdge Advisors LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,468 shares of the semiconductor company’s stock after buying an additional 490 shares during the quarter. Analog Devices accounts for 0.6% of NewEdge Advisors LLC’s portfolio, making the stock its 25th biggest holding. NewEdge Advisors LLC’s holdings in Analog Devices were worth $47,228,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. FMR LLC grew its stake in shares of Analog Devices by 72.8% during the 1st quarter. FMR LLC now owns 13,650,137 shares of the semiconductor company’s stock worth $2,692,080,000 after purchasing an additional 5,748,969 shares during the period. Geode Capital Management LLC grew its position in Analog Devices by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 9,326,193 shares of the semiconductor company’s stock worth $1,527,065,000 after buying an additional 100,206 shares during the period. Wells Fargo & Company MN increased its holdings in Analog Devices by 1.9% in the fourth quarter. Wells Fargo & Company MN now owns 8,397,341 shares of the semiconductor company’s stock valued at $1,377,416,000 after buying an additional 153,727 shares in the last quarter. Norges Bank acquired a new stake in shares of Analog Devices during the 4th quarter valued at approximately $1,040,194,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Analog Devices by 360.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,144,344 shares of the semiconductor company’s stock worth $288,077,000 after acquiring an additional 4,810,035 shares in the last quarter. Hedge funds and other institutional investors own 85.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ADI shares. Citigroup reduced their price objective on Analog Devices from $225.00 to $200.00 in a report on Thursday, May 25th. Robert W. Baird decreased their price objective on shares of Analog Devices from $235.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, August 24th. Raymond James dropped their target price on shares of Analog Devices from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Analog Devices from $200.00 to $195.00 in a report on Thursday, May 25th. Finally, Sanford C. Bernstein dropped their price objective on shares of Analog Devices from $220.00 to $210.00 in a research note on Thursday, May 25th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.21.

Analog Devices Trading Up 0.1 %

Shares of Analog Devices stock traded up $0.21 during trading hours on Thursday, hitting $181.78. The company’s stock had a trading volume of 3,362,245 shares, compared to its average volume of 3,433,507. The company has a quick ratio of 1.10, a current ratio of 1.71 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $90.58 billion, a PE ratio of 24.67, a P/E/G ratio of 1.84 and a beta of 1.15. The business has a fifty day moving average of $188.20 and a 200 day moving average of $186.37. Analog Devices, Inc. has a 1-year low of $133.48 and a 1-year high of $200.10.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.52 by ($0.03). The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. Analog Devices’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.52 EPS. As a group, equities analysts forecast that Analog Devices, Inc. will post 10.15 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Friday, September 1st. Analog Devices’s dividend payout ratio is currently 46.74%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $181.03, for a total value of $4,525,750.00. Following the completion of the sale, the chief executive officer now directly owns 70,713 shares in the company, valued at approximately $12,801,174.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Vincent Roche sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $181.03, for a total transaction of $4,525,750.00. Following the completion of the sale, the chief executive officer now owns 70,713 shares of the company’s stock, valued at approximately $12,801,174.39. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 30,591 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $192.75, for a total transaction of $5,896,415.25. Following the completion of the transaction, the chief financial officer now directly owns 27,458 shares in the company, valued at approximately $5,292,529.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,051 shares of company stock valued at $15,886,215. Insiders own 0.46% of the company’s stock.

About Analog Devices

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 that include performance, integration, and software design simulation tools for accurate power supply designs.