Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Prudential PLC

Prudential PLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 92.3% during the second quarter, Holdings Channel reports. The firm owned 40,042 shares of the semiconductor company’s stock after acquiring an additional 19,224 shares during the quarter. Prudential PLC’s holdings in Analog Devices were worth $9,140,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baader Bank Aktiengesellschaft lifted its holdings in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 43 shares during the period. CVA Family Office LLC boosted its holdings in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. SouthState Corp increased its stake in shares of Analog Devices by 28.6% during the second quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 50 shares during the period. Tsfg LLC raised its holdings in Analog Devices by 24.5% during the second quarter. Tsfg LLC now owns 269 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 53 shares in the last quarter. Finally, Mcdonald Partners LLC lifted its position in Analog Devices by 0.7% in the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock valued at $1,497,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity

In other news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The disclosure for this sale can be found here. Insiders sold a total of 49,107 shares of company stock valued at $11,301,610 over the last 90 days. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

ADI has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. The Goldman Sachs Group lifted their price target on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Robert W. Baird lifted their price target on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $251.45.

Analog Devices Stock Performance

Shares of ADI opened at $218.56 on Tuesday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a market cap of $108.45 billion, a P/E ratio of 51.07, a PEG ratio of 3.55 and a beta of 1.07. The company has a 50-day moving average of $225.26 and a two-hundred day moving average of $214.30. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.49 earnings per share. As a group, research analysts predict that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

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.