Great Lakes Advisors LLC Grows Holdings in Analog Devices, Inc. $ADI

Great Lakes Advisors LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,351 shares of the semiconductor company’s stock after purchasing an additional 2,570 shares during the period. Great Lakes Advisors LLC’s holdings in Analog Devices were worth $5,246,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Howard Hughes Medical Institute acquired a new stake in Analog Devices during the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC acquired a new position in shares of Analog Devices in the second quarter valued at approximately $26,000. Clayton Financial Group LLC purchased a new stake in shares of Analog Devices during the third quarter worth approximately $31,000. Sound Income Strategies LLC lifted its holdings in shares of Analog Devices by 141.8% during the third quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 95 shares during the period. Finally, Access Investment Management LLC purchased a new position in Analog Devices in the 2nd quarter valued at $45,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the sale, the chief accounting officer owned 18,913 shares in the company, valued at $5,258,381.39. This trade represents a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $297.27, for a total value of $928,968.75. Following the completion of the transaction, the director owned 130,071 shares of the company’s stock, valued at $38,666,206.17. The trade was a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 53,544 shares of company stock valued at $14,328,561 in the last 90 days. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ADI shares. Morgan Stanley reissued an “overweight” rating and issued a $314.00 price objective on shares of Analog Devices in a research note on Friday, January 16th. Piper Sandler set a $290.00 price target on shares of Analog Devices in a research note on Tuesday, November 25th. Citigroup raised their price objective on shares of Analog Devices from $290.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 price objective on shares of Analog Devices in a report on Tuesday, December 16th. Finally, BNP Paribas Exane began coverage on Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.04.

Analog Devices Price Performance

ADI stock opened at $310.88 on Friday. The stock’s 50 day moving average price is $284.07 and its 200 day moving average price is $254.36. The firm has a market cap of $151.90 billion, a P/E ratio of 68.18, a PEG ratio of 1.72 and a beta of 1.03. 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, Inc. has a 1 year low of $158.65 and a 1 year high of $319.26.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The company had revenue of $3.08 billion during 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%.The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.67 earnings per share. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

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.