ABC Arbitrage SA Sells 2,969 Shares of Analog Devices, Inc. $ADI

ABC Arbitrage SA reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 37.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,961 shares of the semiconductor company’s stock after selling 2,969 shares during the quarter. ABC Arbitrage SA’s holdings in Analog Devices were worth $1,219,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Analog Devices by 1.5% in the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after acquiring an additional 761,861 shares in the last quarter. State Street Corp boosted its position in shares of Analog Devices by 2.2% during the second quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock valued at $5,549,973,000 after buying an additional 506,507 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 during the period. Norges Bank bought a new stake in shares of Analog Devices during the 2nd quarter worth approximately $1,803,377,000. Finally, Ameriprise Financial Inc. boosted its holdings in Analog Devices by 6.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock valued at $1,506,448,000 after acquiring an additional 375,207 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In related news, SVP Martin Cotter sold 10,000 shares of the stock in a transaction on Monday, January 5th. The stock was 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 directly owned 49,664 shares in the company, valued at approximately $13,828,444.16. This trade represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 123,821 shares of the company’s stock, valued at approximately $39,288,403.30. The trade was a 2.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 53,544 shares of company stock valued at $15,320,417 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.

Analog Devices Trading Up 3.6%

Shares of Analog Devices stock opened at $337.00 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The company’s fifty day moving average is $293.79 and its two-hundred day moving average is $259.32. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $337.84. The company has a market capitalization of $164.67 billion, a P/E ratio of 73.90, a PEG ratio of 1.76 and a beta of 1.03.

Analog Devices (NASDAQ:ADIGet Free Report) last posted 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 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 company’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 business earned $1.67 earnings per share. 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 declared 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 of this dividend was Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.2%. Analog Devices’s dividend payout ratio is currently 86.84%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citigroup boosted 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. Bank of America lifted their target price on shares of Analog Devices from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Stifel Nicolaus lifted their target price on Analog Devices from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, January 16th. BNP Paribas Exane began coverage on Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. Finally, Zacks Research upgraded Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $312.26.

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Analog Devices Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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