Analog Devices, Inc. $ADI Shares Bought by Alkeon Capital Management LLC

Alkeon Capital Management LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 21.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,813,833 shares of the semiconductor company’s stock after acquiring an additional 500,000 shares during the quarter. Analog Devices accounts for about 1.1% of Alkeon Capital Management LLC’s holdings, making the stock its 13th biggest position. Alkeon Capital Management LLC owned about 0.57% of Analog Devices worth $669,749,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Howard Hughes Medical Institute acquired a new stake in Analog Devices in the second quarter valued at $25,000. RMG Wealth Management LLC acquired a new position in shares of Analog Devices during the 2nd quarter worth $26,000. Activest Wealth Management boosted its position in shares of Analog Devices by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 127 shares in the last quarter. Access Investment Management LLC acquired a new stake in Analog Devices in the 2nd quarter valued at about $45,000. Finally, Saudi Central Bank purchased a new position in Analog Devices during the 1st quarter valued at about $39,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

ADI opened at $279.32 on Friday. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $284.23. 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’s 50 day simple moving average is $246.14 and its 200 day simple moving average is $240.13. The stock has a market capitalization of $136.77 billion, a PE ratio of 61.25, a P/E/G ratio of 1.57 and a beta of 1.04.

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

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders 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 dividend yield of 1.4%. The ex-dividend date is Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is 86.84%.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the sale, the director directly owned 5,118 shares in the company, valued at $1,242,343.32. The trade was a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the completion of the sale, the chief executive officer directly owned 163,640 shares of the company’s stock, valued at $38,447,218. The trade was a 5.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 35,419 shares of company stock valued at $8,791,598. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Sanford C. Bernstein restated a “market perform” rating and set a $270.00 target price on shares of Analog Devices in a research report on Wednesday, November 26th. Zacks Research downgraded Analog Devices from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Cfra reiterated a “buy” rating and set a $280.00 target price on shares of Analog Devices in a report on Tuesday, November 25th. UBS Group boosted their price target on Analog Devices from $280.00 to $320.00 and gave the stock a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $300.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $283.61.

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.