AQR Capital Management LLC Sells 31,796 Shares of Analog Devices, Inc. (NASDAQ:ADI)

AQR Capital Management LLC decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 203,655 shares of the semiconductor company’s stock after selling 31,796 shares during the period. AQR Capital Management LLC’s holdings in Analog Devices were worth $46,486,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ADI. Vanguard Group Inc. boosted its stake 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 buying an additional 2,160,668 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the last quarter. Capital International Investors lifted its holdings in Analog Devices by 14.3% during the 1st quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after purchasing an additional 644,945 shares during the last quarter. American Century Companies Inc. boosted its position in Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after buying an additional 767,534 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Analog Devices by 9.8% during the second quarter. Van ECK Associates Corp now owns 4,053,897 shares of the semiconductor company’s stock worth $925,342,000 after buying an additional 362,874 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 value of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,495 shares of company stock valued at $13,904,458. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. Morgan Stanley raised their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays raised their price objective on shares of 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, Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Stock Down 0.2 %

Shares of NASDAQ ADI opened at $232.05 on Friday. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-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 stock has a market cap of $115.15 billion, a P/E ratio of 54.22, a P/E/G ratio of 3.75 and a beta of 1.07. The firm has a 50 day moving average price of $222.95 and a 200 day moving average price of $217.26.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion for 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%. The firm’s revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.49 EPS. Analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.59%. Analog Devices’s payout ratio is presently 85.98%.

About Analog Devices

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.