Allspring Global Investments Holdings LLC Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Allspring Global Investments Holdings LLC boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 64.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 568,867 shares of the semiconductor company’s stock after purchasing an additional 223,771 shares during the period. Allspring Global Investments Holdings LLC owned about 0.11% of Analog Devices worth $130,936,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. New Millennium Group LLC bought a new stake in shares of Analog Devices during the 2nd quarter valued at $29,000. Riverview Trust Co purchased a new position in shares of Analog Devices in the first quarter valued at about $30,000. ORG Partners LLC boosted 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 acquiring an additional 135 shares during the period. CVA Family Office LLC grew its position in shares of 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 purchasing an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Analog Devices during the 2nd quarter valued at approximately $37,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices 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 value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on 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 transaction, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,495 shares of company stock worth $20,794,658 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ADI shares. Morgan Stanley upped their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their price target for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Barclays increased their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Trading Up 0.4 %

Analog Devices stock traded up $0.99 during midday trading on Friday, reaching $228.33. The stock had a trading volume of 1,763,100 shares, compared to its average volume of 3,250,594. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a fifty day moving average of $225.95 and a 200 day moving average of $221.03. The firm has a market cap of $113.30 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly 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. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period last year, the company earned $2.49 EPS. On average, analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

Analog Devices Company 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.