Commerzbank Aktiengesellschaft FI grew its position in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,896 shares of the semiconductor company’s stock after purchasing an additional 1,093 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Analog Devices were worth $3,546,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of ADI. Activest Wealth Management grew its holdings in Analog Devices by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. RMG Wealth Management LLC purchased a new position in Analog Devices in the second quarter worth $26,000. Alpine Bank Wealth Management purchased a new position in Analog Devices in the first quarter worth $27,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Analog Devices during the first quarter worth $33,000. Finally, North Capital Inc. acquired a new stake in shares of Analog Devices during the first quarter worth $36,000. 86.81% of the stock is owned by hedge funds and other institutional investors.
Analog Devices Stock Down 0.0%
ADI stock opened at $237.88 on Friday. The stock has a market capitalization of $117.03 billion, a P/E ratio of 60.68, a P/E/G ratio of 2.00 and a beta of 1.09. The firm has a 50-day simple moving average of $241.59 and a 200-day simple moving average of $224.03. The company has a quick ratio of 1.79, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $258.13.
Analog Devices Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Analog Devices’s dividend payout ratio is currently 101.02%.
Insider Activity at Analog Devices
In related news, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the sale, the director owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. This represents a 16.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katsufumi Nakamura sold 2,490 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $248.03, for a total transaction of $617,594.70. Following the completion of the transaction, the senior vice president owned 13,549 shares in the company, valued at $3,360,558.47. The trade was a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,240 shares of company stock worth $12,980,578 in the last 90 days. 0.33% of the stock is owned by insiders.
Analyst Ratings Changes
ADI has been the subject of several research reports. Piper Sandler lifted their price objective on shares of Analog Devices from $215.00 to $245.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Seaport Res Ptn upgraded shares of Analog Devices from a “strong sell” rating to a “hold” rating in a research note on Monday, July 21st. Truist Financial lifted their price objective on shares of Analog Devices from $219.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, August 21st. Benchmark boosted their target price on shares of Analog Devices from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Finally, Zacks Research upgraded shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $275.29.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. 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 consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.
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