Zweig DiMenna Associates LLC Lowers Position in Analog Devices, Inc. $ADI

Zweig DiMenna Associates LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,214 shares of the semiconductor company’s stock after selling 4,786 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Analog Devices were worth $7,178,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ADI. Norges Bank acquired a new position in shares of Analog Devices in the second quarter worth about $1,803,377,000. Marshall Wace LLP boosted its position in Analog Devices by 948.2% during the second quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock worth $258,487,000 after purchasing an additional 982,385 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Analog Devices by 47.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,745,985 shares of the semiconductor company’s stock valued at $653,599,000 after purchasing an additional 882,909 shares during the period. Vanguard Group Inc. increased its position in shares of Analog Devices by 1.5% in the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock valued at $11,955,086,000 after buying an additional 761,861 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Analog Devices by 684.6% during the 3rd quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock worth $211,871,000 after buying an additional 752,411 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Martin Cotter sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $278.44, for a total transaction of $2,784,400.00. Following the sale, the senior vice president owned 49,664 shares of the company’s stock, valued at approximately $13,828,444.16. The trade was a 16.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katsufumi Nakamura sold 500 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $301.46, for a total value of $150,730.00. Following the completion of the transaction, the senior vice president owned 12,710 shares in the company, valued at $3,831,556.60. This represents a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 53,544 shares of company stock worth $15,320,417. 0.36% of the stock is currently owned by company insiders.

Analog Devices Price Performance

ADI stock opened at $337.10 on Tuesday. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $343.96. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. The firm has a market capitalization of $164.72 billion, a PE ratio of 73.93, a price-to-earnings-growth ratio of 1.93 and a beta of 1.03. The business has a 50 day simple moving average of $297.14 and a 200-day simple moving average of $261.77.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the prior year, the business earned $1.67 EPS. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. Equities research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, December 8th. Analog Devices’s payout ratio is presently 86.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group reissued a “buy” rating and issued a $400.00 price target on shares of Analog Devices in a report on Monday, February 9th. KeyCorp boosted their target price on shares of Analog Devices from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Truist Financial raised their price target on shares of Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a research note on Friday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price objective on shares of Analog Devices in a research note on Tuesday, December 16th. Finally, Zacks Research upgraded Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.87.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.