GLOBALT Investments LLC GA Has $7.39 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

GLOBALT Investments LLC GA lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 30.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,094 shares of the semiconductor company’s stock after purchasing an additional 7,498 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Analog Devices were worth $7,387,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ADI. Swedbank AB bought a new stake in shares of Analog Devices during the 1st quarter worth $537,171,000. Canada Pension Plan Investment Board lifted its position in shares of Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after buying an additional 1,753,536 shares during the last quarter. Raymond James & Associates lifted its position in shares of Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after buying an additional 1,422,054 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Analog Devices by 19.5% during the 1st 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 buying an additional 1,330,242 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after buying an additional 883,888 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on ADI. Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. increased their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Bank of America decreased their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Trading Down 2.8 %

Shares of ADI stock opened at $206.35 on Monday. Analog Devices, Inc. has a 12-month low of $178.66 and a 12-month 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. The business has a 50-day moving average price of $225.88 and a two-hundred day moving average price of $225.34. The firm has a market cap of $102.45 billion, a P/E ratio of 61.97, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08.

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

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given 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 of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 110.51%.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 3,753 shares in the company, valued at $879,365.43. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,495 shares of company stock valued at $25,229,958 in the last 90 days. Insiders own 0.31% of the company’s stock.

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.