Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Eagle Asset Management Inc.

Eagle Asset Management Inc. increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 644,527 shares of the semiconductor company’s stock after purchasing an additional 21,798 shares during the period. Analog Devices accounts for approximately 0.8% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 26th biggest position. Eagle Asset Management Inc. owned approximately 0.13% of Analog Devices worth $145,534,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB acquired a new position in shares of Analog Devices during the 1st quarter valued at about $537,171,000. Raymond James & Associates raised its position in Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after purchasing an additional 1,422,054 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Analog Devices by 19.5% during the first 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 purchasing an additional 1,330,242 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Analog Devices by 23,792.4% during the third 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 period. Finally, American Century Companies Inc. grew its stake in shares of Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after buying an additional 767,534 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. This trade represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,995 shares of company stock worth $25,116,338. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. 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 research report on Thursday, August 22nd. Bank of America reduced their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and reduced their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $213.36 on Friday. The stock has a 50 day moving average of $225.09 and a two-hundred day moving average of $225.33. Analog Devices, Inc. has a twelve month low of $179.63 and a twelve month high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a market cap of $105.93 billion, a P/E ratio of 64.07, a P/E/G ratio of 2.97 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.49 earnings per share. On average, research analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices 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.