Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by GAM Holding AG

GAM Holding AG lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 49.1% during the third quarter, Holdings Channel reports. The firm owned 12,655 shares of the semiconductor company’s stock after selling 12,187 shares during the period. GAM Holding AG’s holdings in Analog Devices were worth $2,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADI. Swedbank AB acquired a new stake in Analog Devices during the first quarter worth approximately $537,171,000. Vanguard Group Inc. grew its position in shares of Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after acquiring an additional 1,753,536 shares during the last quarter. Raymond James & Associates grew its position in shares of Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after acquiring an additional 1,422,054 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after acquiring an additional 1,330,242 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the transaction, the chief executive officer now owns 45,326 shares of the company’s stock, valued at $10,376,481.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the transaction, the chief executive officer now owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,495 shares of company stock valued at $20,794,658 in the last 90 days. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays raised their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Oppenheimer restated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America lowered 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. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price objective for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $224.62 on Wednesday. The firm has a market capitalization of $111.46 billion, a P/E ratio of 52.48, a PEG ratio of 3.87 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The company’s fifty day moving average is $226.36 and its two-hundred day moving average is $221.66.

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

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Analog Devices 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.