Generation Investment Management LLP Reduces Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Generation Investment Management LLP cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,489,399 shares of the semiconductor company’s stock after selling 365,956 shares during the quarter. Analog Devices comprises approximately 3.6% of Generation Investment Management LLP’s portfolio, making the stock its 12th biggest position. Generation Investment Management LLP’s holdings in Analog Devices were worth $851,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Wade G W & Inc. increased its holdings in shares of Analog Devices by 4.6% during the first quarter. Wade G W & Inc. now owns 1,465 shares of the semiconductor company’s stock valued at $227,000 after acquiring an additional 65 shares in the last quarter. CX Institutional increased its holdings in Analog Devices by 3.2% in the 1st quarter. CX Institutional now owns 2,132 shares of the semiconductor company’s stock worth $331,000 after buying an additional 66 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Analog Devices by 6.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,138 shares of the semiconductor company’s stock worth $176,000 after buying an additional 66 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Analog Devices by 4.5% in the 1st quarter. Fisher Asset Management LLC now owns 1,623 shares of the semiconductor company’s stock worth $252,000 after buying an additional 70 shares in the last quarter. Finally, Good Life Advisors LLC increased its holdings in Analog Devices by 4.4% in the 1st quarter. Good Life Advisors LLC now owns 1,737 shares of the semiconductor company’s stock worth $268,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 95.93% of the company’s stock.

In other Analog Devices news, SVP Gregory N. Henderson sold 6,078 shares of the company’s stock in a transaction on Tuesday, June 15th. The stock was sold at an average price of $168.43, for a total value of $1,023,717.54. Following the completion of the sale, the senior vice president now directly owns 11,925 shares in the company, valued at approximately $2,008,527.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $164.20, for a total value of $1,642,000.00. Following the completion of the sale, the chief executive officer now owns 29,428 shares of the company’s stock, valued at $4,832,077.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,828 shares of company stock valued at $3,780,683. 0.91% of the stock is owned by company insiders.

ADI has been the subject of several research analyst reports. Sanford C. Bernstein upgraded Analog Devices from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $165.00 to $185.00 in a report on Thursday, May 20th. Truist Securities dropped their target price on Analog Devices from $183.00 to $179.00 and set a “buy” rating on the stock in a research report on Thursday, May 20th. Needham & Company LLC assumed coverage on Analog Devices in a research report on Thursday, June 24th. They issued a “buy” rating and a $195.00 target price on the stock. Bank of America raised their target price on Analog Devices from $178.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, June 25th. Finally, Stifel Nicolaus lifted their price objective on Analog Devices from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, July 15th. Two research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $175.39.

NASDAQ:ADI traded down $3.26 during trading hours on Thursday, reaching $161.58. The stock had a trading volume of 67,878 shares, compared to its average volume of 2,432,536. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.05 and a quick ratio of 0.81. Analog Devices, Inc. has a 52 week low of $110.47 and a 52 week high of $172.45. The company’s 50 day moving average price is $163.74. The company has a market capitalization of $59.60 billion, a PE ratio of 39.34, a PEG ratio of 2.09 and a beta of 1.25.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, May 18th. The semiconductor company reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.09. Analog Devices had a return on equity of 17.91% and a net margin of 25.16%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the business earned $1.08 EPS. Analog Devices’s revenue was up 26.1% compared to the same quarter last year. Sell-side analysts anticipate that Analog Devices, Inc. will post 6.28 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 8th. Investors of record on Friday, May 28th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Thursday, May 27th. Analog Devices’s payout ratio is currently 56.21%.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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