Ensign Peak Advisors Inc Lowers Stock Holdings in Analog Devices, Inc. $ADI

Ensign Peak Advisors Inc reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 10.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,257,792 shares of the semiconductor company’s stock after selling 150,138 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.25% of Analog Devices worth $299,380,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Activest Wealth Management increased its stake in Analog Devices by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 127 shares during the period. RMG Wealth Management LLC purchased a new stake in shares of Analog Devices during the second quarter worth $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Analog Devices in the first quarter valued at $33,000. Saudi Central Bank purchased a new position in Analog Devices in the first quarter valued at $39,000. Finally, Nova Wealth Management Inc. acquired a new position in Analog Devices during the 1st quarter worth $42,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $232.20 on Thursday. The stock’s 50-day moving average price is $239.50 and its 200 day moving average price is $234.35. The company has a quick ratio of 1.79, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $114.23 billion, a PE ratio of 59.23, a price-to-earnings-growth ratio of 1.98 and a beta of 1.10. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $258.13.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.10. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the business posted $1.58 EPS. The company’s revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $246.92, for a total value of $771,625.00. Following the transaction, the director directly owned 155,071 shares of the company’s stock, valued at approximately $38,290,131.32. The trade was a 1.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $254.29, for a total transaction of $5,085,800.00. Following the completion of the sale, the chief executive officer owned 23,515 shares of the company’s stock, valued at $5,979,629.35. This trade represents a 45.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 59,750 shares of company stock valued at $14,684,296. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. KeyCorp increased their price target on Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Evercore ISI boosted their price target on shares of Analog Devices from $280.00 to $303.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 21st. Finally, Wells Fargo & Company boosted their price objective 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, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $277.89.

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.