ING Groep NV Purchases 30,355 Shares of Analog Devices, Inc. $ADI

ING Groep NV grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 24.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 153,357 shares of the semiconductor company’s stock after buying an additional 30,355 shares during the period. ING Groep NV’s holdings in Analog Devices were worth $37,680,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Analog Devices by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after purchasing an additional 761,861 shares during the period. State Street Corp grew its position in shares of Analog Devices by 2.2% in the 2nd quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock valued at $5,549,973,000 after purchasing an additional 506,507 shares during the period. Geode Capital Management LLC increased its stake in Analog Devices by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after purchasing an additional 633,425 shares in the last quarter. Norges Bank acquired a new stake in Analog Devices during the 2nd quarter worth approximately $1,803,377,000. Finally, Ameriprise Financial Inc. lifted its stake in Analog Devices by 6.3% in the second quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock valued at $1,506,448,000 after buying an additional 375,207 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Michael Sondel sold 8,169 shares of Analog Devices stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the transaction, the chief accounting officer owned 18,913 shares in the company, valued at approximately $5,258,381.39. This trade represents a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $317.30, for a total value of $991,562.50. Following the transaction, the director directly owned 123,821 shares in the company, valued at approximately $39,288,403.30. This trade represents a 2.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,544 shares of company stock worth $15,320,417 in the last three months. Insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ADI shares. Robert W. Baird increased their price objective on shares of Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. KeyCorp increased their target price on Analog Devices from $330.00 to $375.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Barclays set a $315.00 price target on Analog Devices in a research note on Thursday, January 15th. Zacks Research raised Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Finally, Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.22.

Analog Devices Stock Up 0.7%

NASDAQ:ADI opened at $325.16 on Wednesday. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $327.74. The firm has a market capitalization of $158.88 billion, a price-to-earnings ratio of 71.31, a price-to-earnings-growth ratio of 1.75 and a beta of 1.03. 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’s 50 day moving average price is $292.61 and its two-hundred day moving average price is $258.77.

Analog Devices (NASDAQ:ADI) last released 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. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the business earned $1.67 earnings per share. The firm’s revenue was up 25.9% on a year-over-year basis. Equities research analysts expect 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. Stockholders of record on Monday, December 8th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio is presently 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.