Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 16.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,349 shares of the semiconductor company’s stock after purchasing an additional 6,164 shares during the period. Wellington Management Group LLP’s holdings in Analog Devices were worth $9,978,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Apollon Wealth Management LLC lifted its holdings in Analog Devices by 7.6% in the second quarter. Apollon Wealth Management LLC now owns 11,648 shares of the semiconductor company’s stock valued at $2,659,000 after acquiring an additional 819 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Analog Devices by 12.3% in the 2nd quarter. Pallas Capital Advisors LLC now owns 1,975 shares of the semiconductor company’s stock valued at $472,000 after purchasing an additional 216 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of Analog Devices by 3.9% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,651 shares of the semiconductor company’s stock worth $377,000 after purchasing an additional 62 shares during the period. Sanibel Captiva Trust Company Inc. increased its position in shares of Analog Devices by 5.5% during the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 2,240 shares of the semiconductor company’s stock worth $511,000 after purchasing an additional 117 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Analog Devices in the 2nd quarter valued at about $37,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of ADI stock opened at $216.61 on Monday. The company has a market cap of $107.50 billion, a P/E ratio of 65.84, a PEG ratio of 2.47 and a beta of 1.05. The firm has a fifty day moving average price of $222.16 and a 200 day moving average price of $225.46. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $181.80 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. The company had revenue of $2.44 billion for 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%. During the same period in the prior year, the firm posted $2.01 earnings per share. The firm’s revenue was down 10.1% on a year-over-year basis. Sell-side analysts predict that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be paid a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.70%. Analog Devices’s dividend payout ratio is presently 111.85%.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the sale, the executive vice president now owns 79,093 shares in the company, valued at $18,106,760.49. This represents a 27.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s 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 directly owns 45,326 shares in the company, 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 $24,754,600. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ADI. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. TD Cowen dropped their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, Bank of America cut their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $249.33.

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.