BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in Analog Devices, Inc. $ADI

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,972 shares of the semiconductor company’s stock after buying an additional 2,238 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Analog Devices were worth $6,381,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Howard Hughes Medical Institute bought a new position in Analog Devices during the 2nd quarter valued at about $25,000. Clayton Financial Group LLC bought a new position in shares of Analog Devices during the third quarter valued at approximately $31,000. Valley Wealth Managers Inc. bought a new position in shares of Analog Devices during the third quarter valued at approximately $38,000. Sound Income Strategies LLC raised its holdings in shares of Analog Devices by 141.8% in the third quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after buying an additional 95 shares during the period. Finally, Access Investment Management LLC purchased a new stake in shares of Analog Devices in the second quarter worth approximately $45,000. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ADI. Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $270.00 price target on shares of Analog Devices in a research note on Wednesday, November 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $300.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Oppenheimer raised their target price on shares of Analog Devices from $265.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $310.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Three research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $312.04.

Insider Buying and Selling

In other news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $317.30, for a total value of $991,562.50. Following the sale, the director directly owned 123,821 shares of the company’s stock, valued at $39,288,403.30. This represents a 2.46% 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 the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $306.92, for a total transaction of $3,069,200.00. Following the completion of the sale, the chief executive officer directly owned 155,688 shares in the company, valued at approximately $47,783,760.96. The trade was a 6.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,544 shares of company stock worth $15,320,417 over the last three months. Corporate insiders own 0.36% of the company’s stock.

Analog Devices Trading Down 0.5%

Shares of NASDAQ:ADI opened at $320.45 on Friday. The company has a market capitalization of $156.58 billion, a PE ratio of 70.27, a P/E/G ratio of 1.75 and a beta of 1.03. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $327.75. The business’s fifty day simple moving average is $290.44 and its 200-day simple moving average is $257.05.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the business posted $1.67 EPS. Analog Devices’s revenue was up 25.9% on a year-over-year basis. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were paid a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.2%. Analog Devices’s dividend payout ratio (DPR) is 86.84%.

Analog Devices Company Profile

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.