World Asset Management Inc Buys 3,084 Shares of Analog Devices, Inc. (NASDAQ:ADI)

World Asset Management Inc raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 36.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 11,537 shares of the semiconductor company’s stock after purchasing an additional 3,084 shares during the period. World Asset Management Inc’s holdings in Analog Devices were worth $1,932,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ADI. Independence Bank of Kentucky grew its holdings in Analog Devices by 113.3% during the third quarter. Independence Bank of Kentucky now owns 160 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 85 shares during the period. CNB Bank bought a new position in shares of Analog Devices in the third quarter worth about $27,000. Asset Dedication LLC boosted its stake in shares of Analog Devices by 184.5% in the third quarter. Asset Dedication LLC now owns 165 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 107 shares during the period. Strategic Blueprint LLC bought a new position in shares of Analog Devices in the second quarter worth about $31,000. Finally, Sugarloaf Wealth Management LLC bought a new position in shares of Analog Devices in the third quarter worth about $32,000. 99.40% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on ADI shares. Robert W. Baird reaffirmed a “buy” rating on shares of Analog Devices in a research note on Thursday, November 25th. Truist increased their price target on Analog Devices from $192.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, November 24th. Piper Sandler increased their price target on Analog Devices from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, November 24th. Deutsche Bank Aktiengesellschaft increased their price target on Analog Devices from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, December 15th. Finally, UBS Group began coverage on Analog Devices in a research note on Wednesday, October 13th. They set a “buy” rating and a $210.00 price target for the company. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $199.74.

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $173.18, for a total value of $1,731,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tunc Doluca sold 7,000 shares of Analog Devices stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $173.18, for a total value of $1,212,260.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,636 shares of company stock worth $5,259,112 in the last ninety days. Insiders own 0.91% of the company’s stock.

ADI traded up $0.36 during trading on Friday, hitting $170.14. 39,777 shares of the stock were exchanged, compared to its average volume of 3,250,115. The firm has a 50 day simple moving average of $178.86 and a 200 day simple moving average of $172.46. The firm has a market cap of $62.65 billion, a price-to-earnings ratio of 46.01, a P/E/G ratio of 1.88 and a beta of 1.11. Analog Devices, Inc. has a 1 year low of $142.25 and a 1 year high of $191.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.51 and a current ratio of 1.94.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 23rd. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.70 by $0.03. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.31 billion. Analog Devices had a return on equity of 13.92% and a net margin of 19.00%. Analog Devices’s quarterly revenue was up 53.3% on a year-over-year basis. During the same period last year, the business posted $1.44 EPS. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.55 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 14th. Shareholders of record on Friday, December 3rd were given a dividend of $0.69 per share. The ex-dividend date was Thursday, December 2nd. This represents a $2.76 annualized dividend and a yield of 1.62%. Analog Devices’s dividend payout ratio (DPR) is presently 74.80%.

Analog Devices Company Profile

Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)