ExodusPoint Capital Management LP Acquires 61,209 Shares of Analog Devices, Inc. (NASDAQ:ADI)

ExodusPoint Capital Management LP increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 134.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,701 shares of the semiconductor company’s stock after acquiring an additional 61,209 shares during the period. ExodusPoint Capital Management LP’s holdings in Analog Devices were worth $20,786,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ADI. Concord Wealth Partners raised its holdings in Analog Devices by 107.9% in the second quarter. Concord Wealth Partners now owns 131 shares of the semiconductor company’s stock worth $26,000 after buying an additional 68 shares during the last quarter. Silicon Valley Capital Partners purchased a new position in shares of Analog Devices during the first quarter valued at approximately $27,000. Magellan Asset Management Ltd purchased a new position in shares of Analog Devices during the first quarter valued at approximately $30,000. Duncker Streett & Co. Inc. raised its holdings in shares of Analog Devices by 66.3% during the second quarter. Duncker Streett & Co. Inc. now owns 153 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 61 shares during the last quarter. Finally, Archer Investment Corp purchased a new position in shares of Analog Devices during the second quarter valued at approximately $30,000. Institutional investors own 85.55% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the 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 transaction, the chief executive officer now directly owns 70,713 shares in the company, valued at approximately $12,912,193.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ADI shares. Oppenheimer reissued an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a report on Thursday, August 24th. Wells Fargo & Company cut their target price on shares of Analog Devices from $185.00 to $175.00 and set an “equal weight” rating for the company in a research report on Thursday, August 24th. Robert W. Baird cut their target price on shares of Analog Devices from $235.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, August 24th. Evercore ISI boosted their target price on shares of Analog Devices from $200.00 to $210.00 in a research report on Thursday, October 5th. Finally, Raymond James cut their target price on shares of Analog Devices from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, August 24th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $205.46.

Analog Devices Trading Down 0.9 %

Shares of ADI opened at $182.25 on Tuesday. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $200.10. The company has a market cap of $90.82 billion, a P/E ratio of 24.98, a P/E/G ratio of 2.25 and a beta of 1.16. The company has a current ratio of 1.71, a quick ratio of 1.10 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $171.74 and its 200-day simple moving average is $180.78.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.01). The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. The company’s quarterly revenue was down 16.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.73 EPS. As a group, analysts expect that Analog Devices, Inc. will post 10.08 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, September 5th were 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 was Friday, September 1st. Analog Devices’s payout ratio is 46.74%.

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.