Private Wealth Partners LLC Acquires 2,179 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Private Wealth Partners LLC raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.0% in the second quarter, HoldingsChannel.com reports. The firm owned 57,168 shares of the semiconductor company’s stock after purchasing an additional 2,179 shares during the quarter. Private Wealth Partners LLC’s holdings in Analog Devices were worth $9,842,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Theleme Partners LLP bought a new stake in shares of Analog Devices during the 1st quarter worth approximately $178,032,000. abrdn plc lifted its holdings in shares of Analog Devices by 543.2% during the 2nd quarter. abrdn plc now owns 1,046,755 shares of the semiconductor company’s stock worth $180,246,000 after acquiring an additional 884,015 shares during the period. Amundi Asset Management US Inc. lifted its holdings in shares of Analog Devices by 29.0% during the 1st quarter. Amundi Asset Management US Inc. now owns 3,897,467 shares of the semiconductor company’s stock worth $604,419,000 after acquiring an additional 875,666 shares during the period. Korea Investment CORP lifted its holdings in shares of Analog Devices by 96.2% during the 1st quarter. Korea Investment CORP now owns 1,192,479 shares of the semiconductor company’s stock worth $184,930,000 after acquiring an additional 584,686 shares during the period. Finally, Credit Suisse AG lifted its holdings in shares of Analog Devices by 62.6% during the 1st quarter. Credit Suisse AG now owns 1,352,901 shares of the semiconductor company’s stock worth $209,807,000 after acquiring an additional 520,646 shares during the period. 99.18% of the stock is owned by hedge funds and other institutional investors.

NASDAQ ADI traded up $3.51 on Thursday, hitting $177.36. The company’s stock had a trading volume of 197,724 shares, compared to its average volume of 3,608,355. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. Analog Devices, Inc. has a 1-year low of $110.66 and a 1-year high of $175.25. The company’s 50-day moving average is $167.07 and its 200 day moving average is $162.04. The firm has a market cap of $65.31 billion, a PE ratio of 38.04, a PEG ratio of 2.16 and a beta of 1.22.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, August 17th. The semiconductor company reported $1.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.10. Analog Devices had a net margin of 26.15% and a return on equity of 18.86%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company posted $1.36 EPS. The company’s revenue was up 20.8% on a year-over-year basis. On average, equities analysts expect that Analog Devices, Inc. will post 6.41 EPS for the current year.

Analog Devices announced that its board has authorized a stock buyback program on Wednesday, August 25th that permits the company to buyback $8.50 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 13.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 8th. Stockholders of record on Friday, August 27th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, August 26th. Analog Devices’s dividend payout ratio (DPR) is presently 56.21%.

A number of analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Analog Devices from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, June 25th. Truist Securities upped their price target on shares of Analog Devices from $179.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, August 19th. Jefferies Financial Group increased their price objective on shares of Analog Devices from $188.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. Zacks Investment Research downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and set a $181.00 price objective for the company. in a research note on Thursday, August 5th. Finally, Stifel Nicolaus increased their price objective on shares of Analog Devices from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $182.69.

Analog Devices Company Profile

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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

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