First Eagle Investment Management LLC Sells 16,279 Shares of Analog Devices, Inc. (NASDAQ:ADI)

First Eagle Investment Management LLC decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,830,808 shares of the semiconductor company’s stock after selling 16,279 shares during the period. Analog Devices comprises about 2.0% of First Eagle Investment Management LLC’s holdings, making the stock its 19th largest holding. First Eagle Investment Management LLC owned about 0.77% of Analog Devices worth $874,420,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADI. Baader Bank Aktiengesellschaft boosted its stake in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after acquiring an additional 43 shares in the last quarter. CVA Family Office LLC boosted its position in shares of Analog Devices by 40.2% in the 2nd 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. SouthState Corp boosted its position in shares of Analog Devices by 28.6% in the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 50 shares in the last quarter. Investment Partners LTD. grew its stake in shares of Analog Devices by 2.9% in the 2nd quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock worth $399,000 after buying an additional 50 shares during the last quarter. Finally, Tsfg LLC increased its position in Analog Devices by 24.5% during the 2nd quarter. Tsfg LLC now owns 269 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 53 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ADI shares. Citigroup boosted their target price on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Robert W. Baird increased their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Susquehanna lifted their target price on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. Morgan Stanley increased their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised 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. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $251.45.

Analog Devices Trading Down 1.2 %

Analog Devices stock opened at $222.64 on Thursday. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a market cap of $110.48 billion, a P/E ratio of 52.02, a P/E/G ratio of 3.74 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. The business has a 50-day simple moving average of $224.04 and a two-hundred day simple moving average of $215.73.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the business posted $2.49 earnings per share. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.65%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were 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 owns 51,039 shares in the company, valued at $11,640,975.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,495 shares of company stock worth $7,181,458. Corporate insiders own 0.31% of the company’s stock.

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.