Sei Investments Co. Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Sei Investments Co. increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 48.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 332,795 shares of the semiconductor company’s stock after purchasing an additional 108,545 shares during the quarter. Sei Investments Co. owned approximately 0.07% of Analog Devices worth $75,961,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ADI. Vanguard Group Inc. increased its position in shares of Analog Devices by 4.7% during the 1st 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. Price T Rowe Associates Inc. MD increased its holdings in Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after buying an additional 1,330,242 shares during the last quarter. Capital International Investors increased its holdings in Analog Devices by 14.3% during the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after buying an additional 644,945 shares during the last quarter. American Century Companies Inc. raised its position in Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after acquiring an additional 767,534 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Analog Devices by 9.8% during the 2nd quarter. Van ECK Associates Corp now owns 4,053,897 shares of the semiconductor company’s stock valued at $925,342,000 after acquiring an additional 362,874 shares during the period. 86.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ADI. Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley upped their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Truist Financial cut their target price on shares of Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the stock in a transaction that occurred on 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 directly owns 4,748 shares in the company, valued at $1,078,935.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction 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 $11,640,975.12. 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. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Trading Down 2.9 %

Shares of ADI stock opened at $226.78 on Friday. The company has a market capitalization of $112.53 billion, a PE ratio of 52.99, 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 fifty day moving average is $223.80 and its 200 day moving average is $216.26. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is 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.