Boston Common Asset Management LLC Boosts Stake in Analog Devices, Inc. $ADI

Boston Common Asset Management LLC increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 28.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,071 shares of the semiconductor company’s stock after acquiring an additional 9,632 shares during the period. Boston Common Asset Management LLC’s holdings in Analog Devices were worth $10,828,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ADI. Vanguard Group Inc. boosted its holdings in shares of Analog Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after purchasing an additional 761,861 shares in the last quarter. State Street Corp lifted its position in Analog Devices by 2.2% in the 2nd quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock worth $5,549,973,000 after buying an additional 506,507 shares during the last quarter. Geode Capital Management LLC boosted its stake in Analog Devices by 5.7% in the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after buying an additional 633,425 shares in the last quarter. Norges Bank bought a new position in Analog Devices during the second quarter valued at approximately $1,803,377,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Analog Devices by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock worth $1,506,448,000 after acquiring an additional 375,207 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 3.1%

NASDAQ ADI opened at $304.97 on Thursday. The stock has a market cap of $149.33 billion, a P/E ratio of 66.88, a price-to-earnings-growth ratio of 1.60 and a beta of 1.03. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $309.17. The stock has a 50 day simple moving average of $273.13 and a two-hundred day simple moving average of $251.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19.

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

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.3%. Analog Devices’s dividend payout ratio is 86.84%.

Insider Transactions at Analog Devices

In other news, SVP Martin Cotter sold 10,000 shares of Analog Devices stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $278.44, for a total transaction of $2,784,400.00. Following the sale, the senior vice president owned 49,664 shares of the company’s stock, valued at approximately $13,828,444.16. The trade was a 16.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $275.07, for a total transaction of $2,750,700.00. Following the completion of the transaction, the chief executive officer directly owned 155,688 shares of the company’s stock, valued at approximately $42,825,098.16. The trade was a 6.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 53,544 shares of company stock worth $14,328,561. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ADI shares. Cfra reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Analog Devices in a research note on Tuesday, November 25th. Truist Financial upped their price target on shares of Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a research report on Friday, December 19th. Morgan Stanley reiterated an “overweight” rating and issued a $314.00 price objective on shares of Analog Devices in a report on Friday, January 16th. 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. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $300.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $309.86.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.