Analog Devices, Inc. (NASDAQ:ADI) is Alkeon Capital Management LLC’s 10th Largest Position

Alkeon Capital Management LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,315,237 shares of the semiconductor company’s stock after selling 1,685 shares during the period. Analog Devices accounts for 0.9% of Alkeon Capital Management LLC’s investment portfolio, making the stock its 10th largest holding. Alkeon Capital Management LLC owned approximately 0.47% of Analog Devices worth $532,898,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ADI. FMR LLC raised its position in shares of Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after acquiring an additional 665,149 shares in the last quarter. Van ECK Associates Corp raised its holdings 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 purchasing an additional 700,862 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after buying an additional 767,534 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Analog Devices by 5.3% in the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock valued at $963,788,000 after buying an additional 211,202 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Analog Devices by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock valued at $720,933,000 after buying an additional 171,893 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ADI shares. Bank of America reduced their price target 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. Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.33.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 21.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 45,326 shares of the company’s stock, valued at $10,376,481.18. The trade was a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,000 shares of company stock valued at $24,883,200. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Trading Down 0.9 %

NASDAQ:ADI opened at $217.17 on Friday. Analog Devices, Inc. has a 1 year low of $179.63 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock has a fifty day moving average price of $224.32 and a two-hundred day moving average price of $225.80. The stock has a market capitalization of $107.82 billion, a price-to-earnings ratio of 66.01, a PEG ratio of 3.15 and a beta of 1.08.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

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.