Handelsbanken Fonder AB Boosts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Handelsbanken Fonder AB grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 216,935 shares of the semiconductor company’s stock after acquiring an additional 2,081 shares during the quarter. Handelsbanken Fonder AB’s holdings in Analog Devices were worth $49,932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Millennium Group LLC acquired a new position in Analog Devices in the 2nd quarter valued at $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices in the first quarter valued at about $30,000. ORG Partners LLC lifted its stake in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares in the last quarter. CVA Family Office LLC boosted its position in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Analog Devices during the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer reissued an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 91,495 shares of company stock valued at $20,794,658. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI traded up $1.67 during trading on Friday, reaching $228.23. The company’s stock had a trading volume of 1,895,235 shares, compared to its average volume of 3,302,632. The business’s fifty day moving average price is $222.83 and its 200-day moving average price is $218.55. 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 firm has a market cap of $113.25 billion, a price-to-earnings ratio of 53.32, a P/E/G ratio of 3.75 and a beta of 1.07. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period last year, the firm posted $2.49 EPS. As a group, analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.61%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

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.