Analog Devices, Inc. (NASDAQ:ADI) Stock Position Lifted by Freedom Investment Management Inc.

Freedom Investment Management Inc. raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,218 shares of the semiconductor company’s stock after buying an additional 301 shares during the period. Freedom Investment Management Inc.’s holdings in Analog Devices were worth $510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ADI. FMR LLC raised its position in Analog Devices by 9.9% during the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after acquiring an additional 665,149 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after purchasing an additional 700,862 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Analog Devices by 21.4% in the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after purchasing an additional 767,534 shares during the last quarter. Legal & General Group Plc boosted its holdings in Analog Devices by 5.3% in the second quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after purchasing an additional 211,202 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Analog Devices by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock worth $720,933,000 after buying an additional 171,893 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the transaction, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at $10,376,481.18. The trade was a 18.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,000 shares of company stock valued at $24,883,200. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ADI shares. 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial decreased their price objective on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a report on Wednesday. Finally, TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Price Performance

NASDAQ:ADI opened at $218.05 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.84. The company has a 50-day moving average of $224.14 and a 200-day moving average of $225.86. Analog Devices, Inc. has a 52 week low of $179.63 and a 52 week high of $244.14. The company has a market capitalization of $108.22 billion, a price-to-earnings ratio of 66.28, a PEG ratio of 3.35 and a beta of 1.08.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. Analog Devices’s dividend payout ratio is currently 111.85%.

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.