M&G Plc Reduces Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

M&G Plc reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 45.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 429,407 shares of the semiconductor company’s stock after selling 360,104 shares during the period. M&G Plc owned 0.09% of Analog Devices worth $98,764,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ADI. Swedbank AB purchased a new stake in shares of Analog Devices during the first quarter worth about $537,171,000. Vanguard Group Inc. boosted its holdings in shares of Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Analog Devices by 17,535,360.0% in the first 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 period. Raymond James & Associates lifted its holdings 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 worth $540,463,000 after buying an additional 1,422,054 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Analog Devices by 19.5% in 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 buying an additional 1,330,242 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of ADI opened at $226.25 on Thursday. The firm has a market cap of $112.33 billion, a PE ratio of 67.94, a P/E/G ratio of 3.16 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $166.78 and a 1-year 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 firm has a fifty day simple moving average of $226.85 and a two-hundred day simple moving average of $224.09.

Analog Devices (NASDAQ:ADI) last posted 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 for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company earned $2.49 earnings per share. Analog Devices’s revenue was down 24.8% on a year-over-year basis. On average, equities analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.63%. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,672,108.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the sale, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,495 shares of company stock valued at $25,229,958. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on ADI shares. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Barclays raised their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Morgan Stanley raised their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

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.