Analog Devices, Inc. (NASDAQ:ADI) Stock Position Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 605,596 shares of the semiconductor company’s stock after purchasing an additional 16,051 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Analog Devices worth $139,390,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. 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 in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the period. International Assets Investment Management LLC boosted its stake in Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after buying an additional 883,888 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Analog Devices by 807.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after acquiring an additional 853,931 shares during the period. Finally, Holocene Advisors LP raised its position in Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after acquiring an additional 823,709 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the transaction, the chief executive officer now directly owns 45,326 shares in the company, valued at $10,376,481.18. The trade was a 18.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock worth $24,754,600. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ADI shares. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Piper Sandler reduced their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Wells Fargo & Company initiated coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Stock Up 1.9 %

ADI stock opened at $211.78 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a market cap of $105.11 billion, a PE ratio of 64.37, a PEG ratio of 2.47 and a beta of 1.05. Analog Devices, Inc. has a 1 year low of $181.80 and a 1 year high of $244.14. The company has a fifty day simple moving average of $220.26 and a 200 day simple moving average of $224.83.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the firm posted $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

About Analog Devices

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.