Analog Devices, Inc. (NASDAQ:ADI) Stock Position Trimmed by USS Investment Management Ltd

USS Investment Management Ltd cut its position in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 143,770 shares of the semiconductor company’s stock after selling 6,220 shares during the quarter. USS Investment Management Ltd’s holdings in Analog Devices were worth $21,000,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADI. Markel Corp lifted its position in Analog Devices by 1.4% in the 1st quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company’s stock valued at $178,034,000 after purchasing an additional 15,150 shares during the last quarter. Versor Investments LP acquired a new position in Analog Devices during the 1st quarter valued at about $323,000. Shell Asset Management Co. increased its stake in Analog Devices by 6.3% during the 1st quarter. Shell Asset Management Co. now owns 4,794 shares of the semiconductor company’s stock valued at $792,000 after buying an additional 283 shares during the period. Waldron Private Wealth LLC increased its stake in Analog Devices by 23.9% during the 1st quarter. Waldron Private Wealth LLC now owns 3,142 shares of the semiconductor company’s stock valued at $518,000 after buying an additional 606 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Analog Devices by 6.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,086,544 shares of the semiconductor company’s stock valued at $179,475,000 after buying an additional 66,879 shares during the period. 85.22% of the stock is currently owned by institutional investors.

Analog Devices Trading Up 0.5 %

Shares of Analog Devices stock traded up $0.77 during trading on Thursday, hitting $169.20. The stock had a trading volume of 3,851,895 shares, compared to its average volume of 4,247,271. The stock has a 50 day simple moving average of $147.66 and a 200 day simple moving average of $154.99. The company has a market capitalization of $87.03 billion, a PE ratio of 32.05, a P/E/G ratio of 1.46 and a beta of 1.11. The company has a quick ratio of 1.43, a current ratio of 2.02 and a debt-to-equity ratio of 0.18. Analog Devices, Inc. has a 1 year low of $133.48 and a 1 year high of $188.20.

Analog Devices (NASDAQ:ADIGet Rating) last posted its quarterly earnings results on Tuesday, November 22nd. The semiconductor company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.58 by $0.15. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Analog Devices had a net margin of 22.88% and a return on equity of 13.58%. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. On average, research analysts expect that Analog Devices, Inc. will post 9.41 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, December 5th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Friday, December 2nd. Analog Devices’s dividend payout ratio is currently 57.58%.

Wall Street Analysts Forecast Growth

ADI has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Analog Devices in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Needham & Company LLC cut shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Truist Financial lifted their price objective on shares of Analog Devices from $209.00 to $214.00 in a research note on Wednesday. Credit Suisse Group reaffirmed a “neutral” rating and issued a $185.00 price objective on shares of Analog Devices in a research note on Wednesday, November 16th. Finally, Citigroup lifted their price objective on shares of Analog Devices from $192.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.65.

Insider Buying and Selling

In related news, Director Tunc Doluca sold 1,700 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $160.00, for a total transaction of $272,000.00. Following the completion of the sale, the director now directly owns 68,657 shares in the company, valued at $10,985,120. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Analog Devices Company Profile

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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 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

See Also

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

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