Analog Devices, Inc. $ADI Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,516,455 shares of the semiconductor company’s stock after purchasing an additional 82,518 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.31% of Analog Devices worth $372,593,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ADI. Vanguard Group Inc. increased its holdings in shares of Analog Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock valued at $11,955,086,000 after acquiring an additional 761,861 shares during the period. State Street Corp grew its position in Analog Devices by 2.2% during the 2nd quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock worth $5,549,973,000 after purchasing an additional 506,507 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 valued at $2,770,448,000 after purchasing an additional 633,425 shares during the period. Norges Bank purchased a new stake in shares of Analog Devices in the second quarter valued at about $1,803,377,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Analog Devices by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock worth $1,506,448,000 after buying an additional 375,207 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $306.92, for a total transaction of $3,069,200.00. Following the sale, the chief executive officer owned 155,688 shares in the company, valued at approximately $47,783,760.96. This represents a 6.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $297.27, for a total value of $928,968.75. Following the sale, the director owned 130,071 shares of the company’s stock, valued at approximately $38,666,206.17. This represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 50,419 shares of company stock worth $14,328,855 in the last quarter. Insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ADI shares. Wells Fargo & Company set a $340.00 price target on Analog Devices and gave the company an “overweight” rating in a research report on Thursday, January 15th. Morgan Stanley reiterated an “overweight” rating and issued a $314.00 target price on shares of Analog Devices in a research note on Friday, January 16th. Zacks Research raised Analog Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Citigroup increased their price target on Analog Devices from $290.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Finally, UBS Group set a $350.00 price objective on shares of Analog Devices in a research report on Wednesday, January 21st. Three investment 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $312.04.

Analog Devices Trading Up 2.9%

NASDAQ:ADI opened at $320.44 on Thursday. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $323.09. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $288.06 and a 200-day simple moving average of $256.04. The company has a market capitalization of $156.58 billion, a PE ratio of 70.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the firm posted $1.67 EPS. On average, equities research 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 disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.2%. The ex-dividend date 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.