Accredited Investors Inc. Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Accredited Investors Inc. increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 34.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,015 shares of the semiconductor company’s stock after purchasing an additional 1,032 shares during the period. Accredited Investors Inc.’s holdings in Analog Devices were worth $924,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB bought a new position in shares of Analog Devices in the first quarter worth approximately $537,171,000. Canada Pension Plan Investment Board lifted its position in Analog Devices by 17,535,360.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after acquiring an additional 1,753,536 shares in the last quarter. Raymond James & Associates boosted its stake in Analog Devices by 153.6% during the 3rd 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 last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 worth $1,614,735,000 after purchasing an additional 1,330,242 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Analog Devices by 23,792.4% in 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 purchasing an additional 883,888 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $206.35 on Friday. The company has a market capitalization of $102.45 billion, a P/E ratio of 61.97, a P/E/G ratio of 2.98 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $178.66 and a 1-year high of $244.14. The firm’s 50 day simple moving average is $225.88 and its two-hundred day simple moving average is $225.12. 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 (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. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.49 EPS. Research analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent analyst reports. Bank of America dropped their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Morgan Stanley raised their target price 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating 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 MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $249.80.

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were 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. The trade was a 25.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,495 shares of company stock valued at $25,229,958. Corporate 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.