Ameriprise Financial Inc. Has $1.51 Billion Holdings in Analog Devices, Inc. $ADI

Ameriprise Financial Inc. raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,326,772 shares of the semiconductor company’s stock after acquiring an additional 375,207 shares during the period. Ameriprise Financial Inc. owned about 1.27% of Analog Devices worth $1,506,448,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Baader Bank Aktiengesellschaft boosted its position in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock valued at $270,000 after purchasing an additional 43 shares during the last quarter. Bennett Associates Wealth Management lifted its stake in Analog Devices by 2.9% in the 2nd quarter. Bennett Associates Wealth Management now owns 1,624 shares of the semiconductor company’s stock valued at $387,000 after purchasing an additional 46 shares during the last quarter. Solstein Capital LLC grew its holdings in Analog Devices by 2.0% during the second quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock worth $549,000 after purchasing an additional 46 shares during the period. Keystone Financial Services increased its position in Analog Devices by 1.2% during the second quarter. Keystone Financial Services now owns 3,837 shares of the semiconductor company’s stock worth $913,000 after buying an additional 46 shares during the last quarter. Finally, EFG Asset Management North America Corp. raised its stake in Analog Devices by 0.3% in the first quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company’s stock valued at $2,866,000 after buying an additional 47 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ADI. Stifel Nicolaus set a $280.00 target price on Analog Devices in a research note on Friday, November 21st. JPMorgan Chase & Co. raised their price target on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Cantor Fitzgerald upped their price objective on shares of Analog Devices from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Truist Financial lifted their price target on Analog Devices from $249.00 to $258.00 and gave the company a “hold” rating in a research note on Wednesday, November 26th. Finally, Robert W. Baird lifted their price target on shares of Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $283.61.

Analog Devices Stock Down 1.4%

Shares of NASDAQ:ADI opened at $279.32 on Friday. The firm has a market cap of $136.77 billion, a P/E ratio of 61.25, a P/E/G ratio of 1.57 and a beta of 1.04. The business has a fifty day simple moving average of $246.14 and a 200 day simple moving average of $240.13. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $284.23.

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

Analog Devices Announces Dividend

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

Insider Transactions at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the sale, the director owned 142,571 shares in the company, valued at $32,821,269.91. The trade was a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the transaction, the chief accounting officer owned 18,913 shares in the company, valued at approximately $5,258,381.39. This represents a 30.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 35,419 shares of company stock worth $8,791,598. 0.33% of the stock is currently owned by 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.