Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Creative Planning

Creative Planning grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 111,557 shares of the semiconductor company’s stock after acquiring an additional 9,025 shares during the quarter. Creative Planning’s holdings in Analog Devices were worth $25,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ADI. 9258 Wealth Management LLC increased its stake in Analog Devices by 3.9% during the 4th quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock valued at $444,000 after buying an additional 85 shares during the period. Focus Financial Network Inc. ADV bought a new position in shares of Analog Devices in the fourth quarter valued at approximately $588,000. Partners Capital Investment Group LLP acquired a new position in shares of Analog Devices during the fourth quarter valued at approximately $277,000. California State Teachers Retirement System raised its holdings in Analog Devices by 0.8% during the fourth quarter. California State Teachers Retirement System now owns 808,845 shares of the semiconductor company’s stock worth $160,604,000 after purchasing an additional 6,357 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Analog Devices by 1.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,177,340 shares of the semiconductor company’s stock worth $630,895,000 after purchasing an additional 58,101 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. Insiders sold 51,495 shares of company stock valued at $11,637,458 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

Shares of ADI opened at $232.05 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The company has a market capitalization of $115.15 billion, a price-to-earnings ratio of 54.22, a P/E/G ratio of 3.75 and a beta of 1.07. The business’s 50-day moving average is $222.95 and its 200-day moving average is $217.52. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. The company’s revenue was down 24.8% compared to the same quarter last year. Equities research analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, July 16th. Finally, Barclays boosted their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average price target of $249.80.

About Analog Devices

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.