Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Profund Advisors LLC

Profund Advisors LLC grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,663 shares of the semiconductor company’s stock after purchasing an additional 6,343 shares during the period. Analog Devices makes up about 0.6% of Profund Advisors LLC’s portfolio, making the stock its 22nd biggest holding. Profund Advisors LLC’s holdings in Analog Devices were worth $10,259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Markel Corp boosted its holdings in Analog Devices by 1.4% in the first quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company’s stock worth $178,034,000 after acquiring an additional 15,150 shares in the last quarter. Fairfield Bush & CO. acquired a new stake in Analog Devices in the 1st quarter worth approximately $82,000. United Bank grew its position in Analog Devices by 24.7% during the 1st quarter. United Bank now owns 6,647 shares of the semiconductor company’s stock worth $1,098,000 after purchasing an additional 1,315 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Analog Devices by 34.7% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,599 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 412 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Analog Devices by 14.5% in the first quarter. Canada Pension Plan Investment Board now owns 116,085 shares of the semiconductor company’s stock worth $19,175,000 after buying an additional 14,718 shares during the last quarter. Hedge funds and other institutional investors own 85.55% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ ADI traded up $3.21 during trading on Friday, hitting $183.05. The company had a trading volume of 3,279,033 shares, compared to its average volume of 3,382,534. The firm has a market capitalization of $91.22 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.25 and a beta of 1.16. The stock has a fifty day simple moving average of $171.62 and a two-hundred day simple moving average of $180.78. The company has a quick ratio of 1.10, a current ratio of 1.71 and a debt-to-equity ratio of 0.18. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $200.10.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.52 by ($0.03). Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the firm posted $2.52 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, research analysts expect that Analog Devices, Inc. will post 10.08 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, September 5th were issued a $0.86 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.44 dividend on an annualized basis and a yield of 1.88%. Analog Devices’s payout ratio is currently 46.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Oppenheimer reissued an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a report on Thursday, August 24th. Evercore ISI upped their price objective on shares of Analog Devices from $200.00 to $210.00 in a report on Thursday, October 5th. Piper Sandler cut shares of Analog Devices from an “overweight” rating to a “neutral” rating and set a $190.00 target price for the company. in a report on Thursday, August 24th. Robert W. Baird lowered their price target on shares of Analog Devices from $235.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, August 24th. Finally, Susquehanna reaffirmed a “positive” rating and set a $215.00 price target on shares of Analog Devices in a research report on Monday, September 18th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $205.46.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $182.60, for a total transaction of $1,826,000.00. Following the completion of the sale, the chief executive officer now owns 70,713 shares of the company’s stock, valued at approximately $12,912,193.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Analog Devices Company Profile

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.