Baillie Gifford & Co. Has $777.85 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Baillie Gifford & Co. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,379,454 shares of the semiconductor company’s stock after selling 133,373 shares during the quarter. Baillie Gifford & Co.’s holdings in Analog Devices were worth $777,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft increased 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. Grove Bank & Trust increased its stake in Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after acquiring an additional 43 shares during the last quarter. CVA Family Office LLC increased its stake in 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 during the last quarter. Legacy Financial Advisors Inc. increased its stake in Analog Devices by 1.4% in the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 48 shares during the last quarter. Finally, Quotient Wealth Partners LLC increased its stake in Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 48 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADI. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America cut their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Morgan Stanley raised their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Finally, Oppenheimer restated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Price Performance

ADI stock opened at $220.47 on Tuesday. Analog Devices, Inc. has a 12-month low of $170.10 and a 12-month high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a market cap of $109.46 billion, a price-to-earnings ratio of 66.21, a PEG ratio of 3.17 and a beta of 1.08. The company’s fifty day simple moving average is $226.32 and its 200 day simple moving average is $224.99.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm posted $2.49 earnings per share. The business’s revenue was down 24.8% compared to the same quarter last year. On average, analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.67%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 110.51%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,672,108.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,495 shares of company stock valued at $25,229,958. Corporate insiders own 0.31% of the company’s stock.

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.