Manchester Global Management UK Ltd Buys 9,500 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Manchester Global Management UK Ltd boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 178,571 shares of the semiconductor company’s stock after buying an additional 9,500 shares during the quarter. Analog Devices accounts for approximately 7.2% of Manchester Global Management UK Ltd’s portfolio, making the stock its 3rd largest holding. Manchester Global Management UK Ltd’s holdings in Analog Devices were worth $40,761,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in shares of Analog Devices in the first quarter valued at approximately $537,171,000. Vanguard Group Inc. grew its position in shares of Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Analog Devices by 17,535,360.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after purchasing an additional 1,753,536 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of Analog Devices in the first quarter valued at approximately $181,232,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADI shares. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their price objective for the company from $266.00 to $233.00 in a research note on Monday. Barclays upped their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Stock Performance

Shares of ADI stock opened at $226.01 on Tuesday. The company’s fifty day simple moving average is $223.56 and its 200-day simple moving average is $216.63. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company has a market cap of $112.15 billion, a PE ratio of 52.81, a P/E/G ratio of 3.74 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm posted $2.49 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. The disclosure for this sale can be found here. In the last three months, insiders sold 31,495 shares of company stock valued at $7,181,458. Corporate insiders own 0.31% 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.