Sphera Funds Management LTD. Has $1.53 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Sphera Funds Management LTD. decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 48.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,660 shares of the semiconductor company’s stock after selling 6,340 shares during the quarter. Sphera Funds Management LTD.’s holdings in Analog Devices were worth $1,533,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ADI. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the third quarter valued at approximately $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices in the second quarter valued at approximately $29,000. Archer Investment Corp increased its stake in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the period. ORG Partners LLC increased its position in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in Analog Devices during the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock valued at $22,596,300 in the last ninety days. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

ADI has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Truist Financial decreased their target price on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $218.30 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $223.80 and its two-hundred day simple moving average is $226.10. Analog Devices, Inc. has a 1-year low of $179.63 and a 1-year high of $244.14. The stock has a market cap of $108.34 billion, a PE ratio of 66.35, a price-to-earnings-growth ratio of 2.52 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business earned $2.01 EPS. The business’s revenue was down 10.1% on a year-over-year basis. As a group, analysts forecast that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Announces Dividend

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

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.