Scientech Research LLC Buys Shares of 10,173 Analog Devices, Inc. (NASDAQ:ADI)

Scientech Research LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the second quarter, Holdings Channel.com reports. The fund bought 10,173 shares of the semiconductor company’s stock, valued at approximately $2,322,000. Analog Devices accounts for 0.5% of Scientech Research LLC’s investment portfolio, making the stock its 25th biggest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swedbank AB acquired a new stake in Analog Devices in the 1st quarter valued at $537,171,000. Vanguard Group Inc. grew its position in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board grew its position in Analog Devices by 17,535,360.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after purchasing an additional 1,753,536 shares during the period. Price T Rowe Associates Inc. MD grew its position in Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Finally, M&G Plc acquired a new stake in Analog Devices in the 1st quarter valued at $181,232,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 2.6 %

ADI opened at $232.46 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The firm has a market capitalization of $115.41 billion, a P/E ratio of 54.31, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07. The company has a fifty day moving average price of $222.93 and a 200-day moving average price of $217.02.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the business earned $2.49 earnings per share. Analog Devices’s revenue for the quarter was down 24.8% compared to the same quarter last year. Equities research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal 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 $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.58%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,570,541.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,495 shares of company stock worth $13,904,458. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of several research reports. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their price target for the company from $266.00 to $233.00 in a research report on Monday. Oppenheimer reissued an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Morgan Stanley raised their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $249.80.

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.