Marshall Wace LLP Increases Stock Position in Analog Devices, Inc. $ADI

Marshall Wace LLP boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 948.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,085,990 shares of the semiconductor company’s stock after acquiring an additional 982,385 shares during the period. Marshall Wace LLP owned 0.22% of Analog Devices worth $258,487,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Activest Wealth Management raised its position in shares of Analog Devices by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. RMG Wealth Management LLC bought a new stake in Analog Devices during the 2nd quarter valued at about $26,000. Saudi Central Bank bought a new position in shares of Analog Devices in the first quarter worth approximately $39,000. Nova Wealth Management Inc. purchased a new stake in shares of Analog Devices during the first quarter valued at approximately $42,000. Finally, Access Investment Management LLC bought a new stake in shares of Analog Devices during the second quarter valued at approximately $45,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Down 0.4%

Shares of ADI stock opened at $277.26 on Friday. The company has a market cap of $135.76 billion, a PE ratio of 60.80, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $279.55. The stock’s 50 day simple moving average is $241.74 and its two-hundred day simple moving average is $237.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the company posted $1.67 EPS. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.4%. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Truist Financial lifted their price objective on Analog Devices from $249.00 to $258.00 and gave the stock a “hold” rating in a report on Wednesday, November 26th. Robert W. Baird raised their target price on shares of Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, November 26th. Zacks Research cut Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Wells Fargo & Company lifted their price objective on Analog Devices from $250.00 to $265.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Finally, Evercore ISI reduced their price target on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $281.87.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the transaction, the chief executive officer owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. This represents a 5.76% 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, Director Edward H. Frank sold 1,000 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the sale, the director owned 5,118 shares in the company, valued at approximately $1,242,343.32. The trade was a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 27,250 shares of company stock worth $6,520,371 over the last 90 days. Company insiders own 0.33% 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.