Atomi Financial Group Inc. Boosts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Atomi Financial Group Inc. boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 14.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,184 shares of the semiconductor company’s stock after purchasing an additional 270 shares during the quarter. Atomi Financial Group Inc.’s holdings in Analog Devices were worth $503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after buying an additional 1,330,242 shares during the period. Capital International Investors increased its stake in shares of Analog Devices by 14.3% during the 1st quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after acquiring an additional 644,945 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after acquiring an additional 767,534 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Analog Devices by 5.3% in the second quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after acquiring an additional 211,202 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADI. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target 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 price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research note on Tuesday. Finally, Bank of America reduced their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $249.80.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the transaction, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the transaction, the executive vice president now owns 79,093 shares in the company, valued at approximately $18,106,760.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,495 shares of company stock valued at $20,794,658. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 1.1 %

Shares of Analog Devices stock opened at $230.70 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The business has a 50-day moving average of $222.95 and a 200-day moving average of $219.29. The company has a market capitalization of $114.48 billion, a PE ratio of 53.86, a P/E/G ratio of 3.75 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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 firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the firm earned $2.49 EPS. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. As a group, equities analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 85.98%.

About Analog Devices

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.