Skandinaviska Enskilda Banken AB publ Acquires 7,700 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 104,063 shares of the semiconductor company’s stock after acquiring an additional 7,700 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Analog Devices were worth $23,753,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADI. Point72 Italy S.r.l. acquired a new position in Analog Devices during the fourth quarter valued at approximately $6,367,000. Grayhawk Investment Strategies Inc. acquired a new position in Analog Devices during the fourth quarter valued at approximately $850,000. Capital International Investors grew its holdings in Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after purchasing an additional 246,799 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in Analog Devices by 1,055.6% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock valued at $45,326,000 after purchasing an additional 208,522 shares during the last quarter. Finally, Profund Advisors LLC grew its holdings in Analog Devices by 16.2% during the fourth quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock valued at $14,365,000 after purchasing an additional 10,106 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of several analyst reports. Robert W. Baird increased their price target on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Truist Financial lowered their price objective on shares of Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Barclays raised their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley raised their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average price target of $251.45.

Analog Devices Stock Down 2.9 %

Shares of NASDAQ:ADI opened at $226.78 on Friday. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The company’s fifty day moving average is $223.80 and its 200-day moving average is $216.07. The company has a market capitalization of $112.53 billion, a PE ratio of 52.99, 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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company earned $2.49 EPS. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. Equities research analysts predict that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following 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. In the last quarter, insiders have sold 31,495 shares of company stock worth $7,181,458. Corporate insiders own 0.31% of the company’s stock.

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.