Marshall Wace LLP Acquires 531,597 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Marshall Wace LLP raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 383.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 670,269 shares of the semiconductor company’s stock after acquiring an additional 531,597 shares during the quarter. Marshall Wace LLP owned approximately 0.14% of Analog Devices worth $152,996,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Point72 Italy S.r.l. bought a new position in shares of Analog Devices during the 4th quarter worth $6,367,000. Grayhawk Investment Strategies Inc. bought a new position in shares of Analog Devices during the 4th quarter worth $850,000. Capital International Investors grew its position in shares of Analog Devices by 5.8% during the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after buying an additional 246,799 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its position in shares of Analog Devices by 1,055.6% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after buying an additional 208,522 shares in the last quarter. Finally, Profund Advisors LLC grew its position in shares of Analog Devices by 16.2% during the 4th quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock worth $14,365,000 after buying an additional 10,106 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of recent research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, July 16th. Barclays upped their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Bank of America decreased their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and decreased their price target for the company from $266.00 to $233.00 in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $249.80.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the sale, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,495 shares of company stock valued at $7,181,458. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 0.3 %

Analog Devices stock opened at $226.01 on Tuesday. The firm has a market cap of $112.15 billion, a price-to-earnings ratio of 52.81, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The business’s 50-day moving average price is $223.56 and its 200 day moving average price is $216.63. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

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

Analog Devices Announces Dividend

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

Analog Devices 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.