Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 20.2% in the third quarter, HoldingsChannel.com reports. The firm owned 2,831 shares of the semiconductor company’s stock after acquiring an additional 476 shares during the quarter. Fisher Asset Management LLC’s holdings in Analog Devices were worth $652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ADI. Daiwa Securities Group Inc. grew its holdings in shares of Analog Devices by 9.1% during the third quarter. Daiwa Securities Group Inc. now owns 106,330 shares of the semiconductor company’s stock worth $24,473,000 after purchasing an additional 8,911 shares during the last quarter. Summit Trail Advisors LLC raised its stake in shares of Analog Devices by 62.2% during the third quarter. Summit Trail Advisors LLC now owns 7,523 shares of the semiconductor company’s stock worth $1,732,000 after purchasing an additional 2,885 shares during the last quarter. Alpha DNA Investment Management LLC lifted its stake in shares of Analog Devices by 90.5% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,591 shares of the semiconductor company’s stock worth $1,977,000 after acquiring an additional 4,082 shares during the period. Larson Financial Group LLC lifted its position in Analog Devices by 103.6% in the third quarter. Larson Financial Group LLC now owns 448 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 228 shares during the period. Finally, StoneX Group Inc. purchased a new position in Analog Devices in the third quarter worth $2,454,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ADI. Morgan Stanley lowered their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday. TD Cowen lowered their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler cut their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $218.05 on Friday. The business’s fifty day moving average price is $224.14 and its 200 day moving average price is $225.96. Analog Devices, Inc. has a twelve month low of $179.63 and a twelve month high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $108.22 billion, a P/E ratio of 66.28, a PEG ratio of 3.35 and a beta of 1.08.

Analog Devices Dividend Announcement

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

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,000 shares of company stock valued at $24,883,200. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices 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.