Analog Devices, Inc. (NASDAQ:ADI) is Pensioenfonds Rail & OV’s 3rd Largest Position

Pensioenfonds Rail & OV increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 11.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,311 shares of the semiconductor company’s stock after purchasing an additional 25,556 shares during the quarter. Analog Devices accounts for 4.2% of Pensioenfonds Rail & OV’s investment portfolio, making the stock its 3rd largest position. Pensioenfonds Rail & OV’s holdings in Analog Devices were worth $56,223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Point72 Italy S.r.l. acquired a new stake in Analog Devices in the 4th quarter valued at about $6,367,000. Grayhawk Investment Strategies Inc. purchased a new position in Analog Devices in the fourth quarter valued at about $850,000. Capital International Investors boosted its stake 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 valued at $895,702,000 after buying an additional 246,799 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in shares of Analog Devices by 1,055.6% in the fourth 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 during the last quarter. Finally, Profund Advisors LLC raised its holdings in Analog Devices by 16.2% in the fourth quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock valued at $14,365,000 after acquiring an additional 10,106 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ADI shares. Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Bank of America cut their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.80.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred 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 owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction 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 sale, the chief executive officer now 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 is available through the SEC website. Also, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares of the company’s stock, valued at $1,078,935.52. 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 ninety days. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 2.8 %

Shares of ADI stock opened at $223.67 on Wednesday. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. 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 stock has a fifty day moving average price of $222.62 and a 200 day moving average price of $217.97. The stock has a market cap of $110.99 billion, a P/E ratio of 52.26, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the business posted $2.49 earnings per share. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) 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.