Lord Abbett & CO. LLC Increases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Lord Abbett & CO. LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 794,359 shares of the semiconductor company’s stock after buying an additional 2,097 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.16% of Analog Devices worth $182,838,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Analog Devices in the third quarter valued at approximately $28,000. New Millennium Group LLC bought a new position in Analog Devices in the 2nd quarter valued at $29,000. Archer Investment Corp increased its position in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Analog Devices during the second quarter valued at about $37,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

Analog Devices stock opened at $216.61 on Friday. The stock has a market cap of $107.50 billion, a price-to-earnings ratio of 65.84, a PEG ratio of 2.47 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $222.16 and a 200 day simple moving average of $225.53. Analog Devices, Inc. has a 52 week low of $181.80 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm earned $2.01 earnings per share. Analog Devices’s revenue was down 10.1% on a year-over-year basis. On average, research analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Analyst Ratings Changes

ADI has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Oppenheimer restated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target for the company. Finally, Truist Financial lowered their price objective on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,000 shares of company stock worth $24,754,600. Corporate insiders own 0.31% of the company’s stock.

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.