1832 Asset Management L.P. Purchases 50,512 Shares of Analog Devices, Inc. $ADI

1832 Asset Management L.P. raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 208.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,725 shares of the semiconductor company’s stock after acquiring an additional 50,512 shares during the period. 1832 Asset Management L.P.’s holdings in Analog Devices were worth $17,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Activest Wealth Management raised its stake in Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in shares of Analog Devices during the 2nd quarter valued at about $26,000. Saudi Central Bank purchased a new stake in shares of Analog Devices during the 1st quarter valued at about $39,000. Nova Wealth Management Inc. bought a new position in shares of Analog Devices in the 1st quarter valued at about $42,000. Finally, Access Investment Management LLC purchased a new position in Analog Devices in the second quarter worth about $45,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Analog Devices stock opened at $277.26 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The company has a market capitalization of $135.76 billion, a PE ratio of 60.80, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a 50 day moving average price of $241.74 and a 200-day moving average price of $237.51. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $279.55.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.Analog Devices’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.67 earnings per share. As a group, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, December 8th. Analog Devices’s payout ratio is presently 86.84%.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of recent research reports. Benchmark restated a “buy” rating and set a $285.00 price objective on shares of Analog Devices in a research report on Wednesday, November 26th. The Goldman Sachs Group restated a “buy” rating and set a $300.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. Evercore ISI dropped their price objective on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a research note on Tuesday, November 25th. Morgan Stanley boosted their price objective on shares of Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Finally, Piper Sandler set a $290.00 target price on shares of Analog Devices in a report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $281.87.

Insider Buying and Selling

In other news, Director Edward H. Frank sold 1,000 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the sale, the director owned 5,118 shares in the company, valued at approximately $1,242,343.32. The trade was a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the transaction, the director owned 142,571 shares in the company, valued at approximately $32,821,269.91. This represents a 2.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 27,250 shares of company stock valued at $6,520,371 over the last three months. 0.33% of the stock is owned by company insiders.

Analog Devices 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.