Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 64.8% in the third quarter, Holdings Channel reports. The firm owned 568,867 shares of the semiconductor company’s stock after buying an additional 223,771 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Analog Devices were worth $130,936,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new stake in Analog Devices in the second quarter worth about $29,000. Riverview Trust Co purchased a new position in shares of Analog Devices in the 1st quarter valued at approximately $30,000. ORG Partners LLC raised its position in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. CVA Family Office LLC boosted its stake in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Analog Devices during the 2nd quarter worth approximately $37,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

NASDAQ:ADI traded up $0.99 during trading hours on Friday, reaching $228.33. 1,763,100 shares of the company were exchanged, compared to its average volume of 3,250,594. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market cap of $113.30 billion, a PE ratio of 53.35, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The stock’s 50-day moving average is $225.95 and its 200-day moving average is $221.03.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Buying and Selling

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,640,975.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,495 shares of company stock worth $20,794,658. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on ADI shares. Morgan Stanley raised their price target 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. Oppenheimer restated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Barclays lifted their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.80.

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.