Amundi Pioneer Asset Management Inc. increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 35.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,021,801 shares of the semiconductor company’s stock after acquiring an additional 795,033 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in Analog Devices were worth $446,410,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in ADI. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Analog Devices in the fourth quarter valued at $1,718,000. Harvest Volatility Management LLC purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $733,000. Dimensional Fund Advisors LP boosted its holdings in shares of Analog Devices by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,800,386 shares of the semiconductor company’s stock valued at $265,942,000 after acquiring an additional 17,456 shares in the last quarter. Voya Financial Advisors Inc. boosted its holdings in shares of Analog Devices by 24.8% in the fourth quarter. Voya Financial Advisors Inc. now owns 27,572 shares of the semiconductor company’s stock valued at $4,030,000 after acquiring an additional 5,484 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $574,864,000. Hedge funds and other institutional investors own 91.90% of the company’s stock.
Several analysts have recently weighed in on ADI shares. Oppenheimer reaffirmed a “buy” rating and issued a $175.00 target price on shares of Analog Devices in a report on Thursday, February 11th. BMO Capital Markets lifted their target price on shares of Analog Devices from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, February 16th. Piper Sandler lifted their target price on shares of Analog Devices from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Analog Devices from $142.00 to $150.00 and gave the company a “hold” rating in a report on Thursday, December 17th. Finally, Royal Bank of Canada boosted their price objective on shares of Analog Devices from $174.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, February 16th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $157.92.
Shares of ADI stock opened at $159.45 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.40 and a current ratio of 1.84. Analog Devices, Inc. has a one year low of $95.75 and a one year high of $164.40. The company has a 50 day moving average price of $154.64 and a 200 day moving average price of $142.21. The firm has a market capitalization of $58.82 billion, a price-to-earnings ratio of 48.61, a price-to-earnings-growth ratio of 2.26 and a beta of 1.31.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, February 16th. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. As a group, equities analysts forecast that Analog Devices, Inc. will post 5.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 9th. Shareholders of record on Friday, February 26th were paid a dividend of $0.69 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.62. This represents a $2.76 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, February 25th. Analog Devices’s payout ratio is currently 56.21%.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.
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