Axxcess Wealth Management LLC raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 172.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,298 shares of the semiconductor company’s stock after purchasing an additional 2,087 shares during the period. Axxcess Wealth Management LLC’s holdings in Analog Devices were worth $482,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of Analog Devices by 2.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,807,729 shares of the semiconductor company’s stock worth $1,785,221,000 after purchasing an additional 218,505 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Analog Devices by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 9,338,263 shares of the semiconductor company’s stock worth $1,542,495,000 after purchasing an additional 1,125,178 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Analog Devices by 3.1% in the 1st quarter. Invesco Ltd. now owns 8,141,005 shares of the semiconductor company’s stock worth $1,344,732,000 after purchasing an additional 247,249 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Analog Devices by 5.6% in the 2nd quarter. Lazard Asset Management LLC now owns 8,073,104 shares of the semiconductor company’s stock worth $1,179,397,000 after purchasing an additional 429,519 shares in the last quarter. Finally, Egerton Capital UK LLP raised its holdings in shares of Analog Devices by 19.5% in the 2nd quarter. Egerton Capital UK LLP now owns 4,455,057 shares of the semiconductor company’s stock worth $650,839,000 after purchasing an additional 726,381 shares in the last quarter. 85.22% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
ADI has been the topic of a number of research reports. Citigroup boosted their target price on shares of Analog Devices from $192.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. Needham & Company LLC lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Thursday, August 18th. StockNews.com began coverage on shares of Analog Devices in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Robert W. Baird restated an “outperform” rating and set a $220.00 price target on shares of Analog Devices in a report on Friday, August 19th. Finally, Piper Sandler cut their price target on shares of Analog Devices from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, August 18th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $191.65.
Insider Transactions at Analog Devices
Analog Devices Stock Performance
ADI stock opened at $169.20 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $87.03 billion, a price-to-earnings ratio of 46.74, a P/E/G ratio of 1.38 and a beta of 1.11. Analog Devices, Inc. has a 12 month low of $133.48 and a 12 month high of $188.20. The firm has a 50 day moving average of $147.66 and a two-hundred day moving average of $154.99.
Analog Devices (NASDAQ:ADI – Get Rating) last issued its quarterly earnings data on Tuesday, November 22nd. The semiconductor company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.15. Analog Devices had a net margin of 17.00% and a return on equity of 11.92%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the company earned $1.73 earnings per share. Analog Devices’s revenue for the quarter was up 38.8% on a year-over-year basis. As a group, equities analysts anticipate that Analog Devices, Inc. will post 9.43 EPS for the current fiscal year.
Analog Devices Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, December 5th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Friday, December 2nd. Analog Devices’s payout ratio is 83.98%.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.
- Get a free copy of the StockNews.com research report on Analog Devices (ADI)
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