ING Groep NV Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

ING Groep NV reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 53.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,026 shares of the semiconductor company’s stock after selling 162,304 shares during the period. ING Groep NV’s holdings in Analog Devices were worth $32,460,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ADI. Vanguard Group Inc. boosted its holdings in shares of Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the period. Capital International Investors increased its stake in Analog Devices by 14.3% during the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after acquiring an additional 644,945 shares during the last quarter. Van ECK Associates Corp increased its stake in Analog Devices by 17.3% during the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after acquiring an additional 700,862 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Analog Devices by 21.4% in the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after purchasing an additional 767,534 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADI has been the subject of a number of research analyst reports. Barclays increased 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. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Stock Up 0.0 %

ADI traded up $0.02 during trading on Thursday, hitting $212.86. The company had a trading volume of 567,015 shares, compared to its average volume of 3,203,307. The company has a market cap of $105.68 billion, a PE ratio of 63.92, a P/E/G ratio of 3.08 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a 1-year low of $178.66 and a 1-year high of $244.14. The business has a 50-day moving average of $226.16 and a 200-day moving average of $225.02.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion for 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 company’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.49 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.73%. Analog Devices’s dividend payout ratio (DPR) is 110.51%.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on 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 owns 51,039 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 owns 51,039 shares in the company, valued at approximately $11,672,108.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have 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.