Royal London Asset Management Ltd. Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Royal London Asset Management Ltd. grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.2% during the third quarter, HoldingsChannel reports. The fund owned 253,876 shares of the semiconductor company’s stock after acquiring an additional 5,462 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Analog Devices were worth $58,435,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Raymond James & Associates grew its holdings in Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Analog Devices by 23,792.4% in the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after purchasing an additional 883,888 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after buying an additional 853,931 shares during the last quarter. Holocene Advisors LP increased its position in Analog Devices by 336.4% during the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after buying an additional 823,709 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after buying an additional 767,534 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent analyst reports. TD Cowen cut their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Piper Sandler cut their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley lowered their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $214.55 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a 1 year low of $180.17 and a 1 year high of $244.14. The firm has a market capitalization of $106.48 billion, a PE ratio of 65.21, a P/E/G ratio of 2.52 and a beta of 1.05. The business’s 50 day moving average price is $223.45 and its 200-day moving average price is $226.02.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.01 earnings per share. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be issued a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.72%. Analog Devices’s payout ratio is 111.85%.

Insiders Place Their Bets

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 transaction, the chief executive officer now owns 45,326 shares in the company, valued at $10,376,481.18. The trade was a 18.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction 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 $18,106,760.49. This represents a 27.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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 corporate insiders.

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.