Marshall Wace LLP Increases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Marshall Wace LLP increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 383.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 670,269 shares of the semiconductor company’s stock after buying an additional 531,597 shares during the quarter. Marshall Wace LLP’s holdings in Analog Devices were worth $152,996,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in Analog Devices in the second quarter valued at $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices in the first quarter valued at $30,000. ORG Partners LLC grew its stake in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares in the last quarter. CVA Family Office LLC grew its stake in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Analog Devices in the second quarter valued at $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley boosted their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Barclays boosted their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Finally, Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the stock from $266.00 to $233.00 in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Price Performance

ADI stock opened at $226.01 on Tuesday. The company has a market capitalization of $112.15 billion, a P/E ratio of 52.81, a PEG ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The business has a 50 day simple moving average of $223.56 and a 200-day simple moving average of $216.63. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

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, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the company earned $2.49 earnings per share. The company’s revenue was down 24.8% compared to the same quarter last year. As a group, equities analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. Insiders sold 31,495 shares of company stock worth $7,181,458 over the last 90 days. 0.31% of the stock is currently owned by 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.