Holocene Advisors LP Buys 823,709 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Holocene Advisors LP raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 336.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,068,572 shares of the semiconductor company’s stock after acquiring an additional 823,709 shares during the period. Analog Devices makes up approximately 1.0% of Holocene Advisors LP’s investment portfolio, making the stock its 22nd largest position. Holocene Advisors LP owned about 0.22% of Analog Devices worth $245,953,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ADI. Cetera Advisors LLC increased its position in Analog Devices by 59.5% during the first quarter. Cetera Advisors LLC now owns 12,998 shares of the semiconductor company’s stock worth $2,571,000 after acquiring an additional 4,850 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in shares of Analog Devices by 85.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,447 shares of the semiconductor company’s stock worth $330,000 after purchasing an additional 666 shares during the period. City State Bank raised its position in shares of Analog Devices by 30.7% in the second quarter. City State Bank now owns 682 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 160 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Analog Devices by 19.7% in the second quarter. Mather Group LLC. now owns 4,160 shares of the semiconductor company’s stock valued at $950,000 after buying an additional 685 shares during the period. Finally, Fragasso Financial Advisors Inc grew its position in Analog Devices by 6.9% during the second quarter. Fragasso Financial Advisors Inc now owns 1,110 shares of the semiconductor company’s stock worth $253,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $218.05 on Monday. The firm has a market capitalization of $108.22 billion, a price-to-earnings ratio of 66.28, a PEG ratio of 3.36 and a beta of 1.08. The company has a current ratio of 1.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $224.14 and its 200-day moving average price is $226.03. Analog Devices, Inc. has a 12 month low of $179.63 and a 12 month high of $244.14.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.69%. Analog Devices’s dividend payout ratio is presently 111.85%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the sale, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. The trade was a 27.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock valued at $24,883,200 in the last ninety days. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on ADI. TD Cowen dropped their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. JPMorgan Chase & Co. boosted 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 reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company started coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $249.33.

About Analog Devices

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.