Thrivent Financial for Lutherans Has $23.94 Million Stock Position in Analog Devices, Inc. $ADI

Thrivent Financial for Lutherans increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 55.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,423 shares of the semiconductor company’s stock after purchasing an additional 34,863 shares during the period. Thrivent Financial for Lutherans’ holdings in Analog Devices were worth $23,936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADI. Solstein Capital LLC increased its stake in Analog Devices by 2.0% in the second quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock valued at $549,000 after acquiring an additional 46 shares during the period. SG Americas Securities LLC grew its stake in shares of Analog Devices by 684.6% in the 3rd quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock valued at $211,871,000 after purchasing an additional 752,411 shares during the period. Voya Investment Management LLC raised its holdings in shares of Analog Devices by 22.3% in the 3rd quarter. Voya Investment Management LLC now owns 1,293,403 shares of the semiconductor company’s stock worth $317,789,000 after buying an additional 236,211 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of Analog Devices by 26.4% during the 3rd quarter. AE Wealth Management LLC now owns 43,932 shares of the semiconductor company’s stock worth $10,795,000 after buying an additional 9,174 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Analog Devices by 55.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,204,226 shares of the semiconductor company’s stock valued at $295,878,000 after buying an additional 427,467 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, SVP Martin Cotter sold 10,000 shares of Analog Devices stock in a transaction 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $306.92, for a total value of $3,069,200.00. Following the sale, the chief executive officer directly owned 155,688 shares of the company’s stock, valued at approximately $47,783,760.96. This trade represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 50,419 shares of company stock worth $14,328,855. Insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. KeyCorp increased 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. Truist Financial upped their target price on shares of Analog Devices from $258.00 to $291.00 and gave the stock a “hold” rating in a report on Friday, December 19th. Morgan Stanley reissued an “overweight” rating and set a $314.00 price target on shares of Analog Devices in a report on Friday, January 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price objective on shares of Analog Devices in a research note on Tuesday, December 16th. Finally, Evercore ISI dropped their price objective on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $312.04.

Analog Devices Price Performance

ADI opened at $311.29 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. The stock has a market capitalization 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. The company’s 50 day simple moving average is $286.81 and its 200-day simple moving average is $255.58. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $321.23.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 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 quarter in the prior year, the business earned $1.67 EPS. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a 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.