Analog Devices, Inc. $ADI Stake Lifted by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 46.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,033 shares of the semiconductor company’s stock after acquiring an additional 38,831 shares during the quarter. Penserra Capital Management LLC’s holdings in Analog Devices were worth $29,982,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute bought a new position in Analog Devices during the second quarter valued at about $25,000. RMG Wealth Management LLC acquired a new stake in Analog Devices in the 2nd quarter valued at about $26,000. Clayton Financial Group LLC bought a new position in shares of Analog Devices during the 3rd quarter valued at about $31,000. Valley Wealth Managers Inc. acquired a new position in shares of Analog Devices in the 3rd quarter worth approximately $38,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Analog Devices by 141.8% in the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 95 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on ADI shares. Cfra reissued a “buy” rating and set a $280.00 target price on shares of Analog Devices in a research note on Tuesday, November 25th. Truist Financial increased their price objective on Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a research report on Friday, December 19th. KeyCorp raised their price objective on Analog Devices from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Susquehanna boosted their target price on Analog Devices from $350.00 to $360.00 and gave the stock a “positive” rating in a research report on Thursday, January 22nd. Finally, Evercore ISI decreased their price target on Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $312.04.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $311.29 on Wednesday. The company’s fifty day moving average is $286.81 and its two-hundred day moving average is $255.58. The company has a market cap of $152.11 billion, a P/E ratio of 68.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $321.23. 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 (NASDAQ:ADI) last issued 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 business had revenue of $3.08 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. Equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared 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 dividend payout ratio is 86.84%.

Insider Buying and Selling at Analog Devices

In related news, SVP Martin Cotter sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $297.27, for a total transaction of $928,968.75. Following the completion of the sale, the director owned 130,071 shares of the company’s stock, valued at approximately $38,666,206.17. The trade was a 2.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 50,419 shares of company stock valued at $14,328,855 in the last 90 days. Corporate insiders own 0.36% of the company’s stock.

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.