Fmr LLC Sells 3,417,892 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fmr LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 31.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,624,333 shares of the semiconductor company’s stock after selling 3,417,892 shares during the period. Fmr LLC’s holdings in Analog Devices were worth $1,113,839,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Claro Advisors LLC boosted its position in Analog Devices by 55.8% in the 2nd quarter. Claro Advisors LLC now owns 3,131 shares of the semiconductor company’s stock valued at $457,000 after buying an additional 1,121 shares during the last quarter. Lcnb Corp boosted its position in shares of Analog Devices by 3.4% in the 2nd quarter. Lcnb Corp now owns 3,623 shares of the semiconductor company’s stock worth $529,000 after purchasing an additional 120 shares during the last quarter. Corient Capital Partners LLC boosted its position in shares of Analog Devices by 8.3% in the 2nd quarter. Corient Capital Partners LLC now owns 58,890 shares of the semiconductor company’s stock worth $8,603,000 after purchasing an additional 4,492 shares during the last quarter. Greenleaf Trust boosted its position in shares of Analog Devices by 7.3% in the 2nd quarter. Greenleaf Trust now owns 11,689 shares of the semiconductor company’s stock worth $1,708,000 after purchasing an additional 796 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC bought a new position in shares of Analog Devices in the 2nd quarter worth $511,000. 85.22% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded up $0.77 during trading on Thursday, reaching $169.20. 3,851,895 shares of the stock were exchanged, compared to its average volume of 4,247,271. Analog Devices, Inc. has a 12 month low of $133.48 and a 12 month high of $188.20. The firm has a market cap of $87.03 billion, a PE ratio of 32.05, a PEG ratio of 1.46 and a beta of 1.11. The stock has a 50-day moving average price of $147.66 and a 200-day moving average price of $154.99. The company has a current ratio of 2.02, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18.

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

Analog Devices Announces Dividend

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

Analyst Ratings Changes

ADI has been the topic of several recent research reports. BMO Capital Markets raised their price target on Analog Devices from $190.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday. Cowen lifted their price target on Analog Devices from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird reissued an “outperform” rating and issued a $220.00 price target on shares of Analog Devices in a research note on Friday, August 19th. Deutsche Bank Aktiengesellschaft lifted their target price on Analog Devices from $155.00 to $170.00 in a research report on Wednesday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Analog Devices in a research report on Friday, November 18th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.65.

Insider Activity at Analog Devices

In related news, Director Tunc Doluca sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $160.00, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.91% of the stock is currently owned by corporate insiders.

Analog Devices 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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