Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,016 shares of the semiconductor company’s stock after acquiring an additional 495 shares during the quarter. Federated Hermes Inc.’s holdings in Analog Devices were worth $7,308,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADI. New Millennium Group LLC purchased a new position in shares of Analog Devices in the 2nd quarter valued at about $29,000. Riverview Trust Co purchased a new stake in Analog Devices during the 1st quarter worth approximately $30,000. ORG Partners LLC increased its stake in Analog Devices by 675.0% during the 2nd 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 increased its stake in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Analog Devices during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, July 16th. Bank of America dropped their price target 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. Sanford C. Bernstein upped their price target on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Barclays upped their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley upped their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.45.

Insider Activity at Analog Devices

In related news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the business’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 transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,495 shares of company stock worth $7,181,458. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Price Performance

Shares of ADI opened at $225.35 on Wednesday. The firm has a 50-day simple moving average of $224.35 and a 200-day simple moving average of $215.68. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. 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 company has a market capitalization of $111.82 billion, a price-to-earnings ratio of 52.65, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.49 EPS. On average, equities research analysts anticipate that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. Analog Devices’s payout ratio is 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.