American Century Companies Inc. Purchases 206,882 Shares of Analog Devices, Inc. $ADI

American Century Companies Inc. lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,464,722 shares of the semiconductor company’s stock after purchasing an additional 206,882 shares during the quarter. Analog Devices makes up about 0.6% of American Century Companies Inc.’s holdings, making the stock its 18th biggest position. American Century Companies Inc. owned approximately 0.90% of Analog Devices worth $1,062,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. RMG Wealth Management LLC acquired a new position in shares of Analog Devices during the 2nd quarter valued at about $26,000. Activest Wealth Management boosted its position in Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 127 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Analog Devices during the first quarter valued at approximately $33,000. Access Investment Management LLC bought a new position in shares of Analog Devices in the second quarter valued at approximately $45,000. Finally, Saudi Central Bank acquired a new stake in shares of Analog Devices in the first quarter worth $39,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, SVP Martin Cotter sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the completion of the sale, the senior vice president directly owned 63,048 shares of the company’s stock, valued at $15,525,570. The trade was a 16.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $254.29, for a total transaction of $5,085,800.00. Following the completion of the transaction, the chief executive officer directly owned 23,515 shares in the company, valued at approximately $5,979,629.35. The trade was a 45.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 59,750 shares of company stock worth $14,684,296. 0.33% of the stock is owned by insiders.

Analog Devices Stock Up 3.2%

Shares of NASDAQ:ADI opened at $232.32 on Friday. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $258.13. The company’s 50-day moving average price is $238.78 and its two-hundred day moving average price is $234.80. The company has a quick ratio of 1.79, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $114.29 billion, a P/E ratio of 59.27, a P/E/G ratio of 1.98 and a beta of 1.09.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 20th. The semiconductor company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.95 by $0.10. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. Analog Devices’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 earnings per share. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ADI shares. BNP Paribas Exane started coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 target price on the stock. Truist Financial raised their price target on Analog Devices from $219.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Barclays boosted their price objective on Analog Devices from $185.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 21st. Cantor Fitzgerald raised their target price on Analog Devices from $270.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Finally, Morgan Stanley upped their price target on Analog Devices from $273.00 to $288.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $278.42.

Analog Devices Company Profile

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.