Fullerton Fund Management Co Ltd. Purchases New Position in Analog Devices, Inc. $ADI

Fullerton Fund Management Co Ltd. acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, HoldingsChannel reports. The institutional investor acquired 284,028 shares of the semiconductor company’s stock, valued at approximately $67,604,000. Analog Devices comprises about 2.7% of Fullerton Fund Management Co Ltd.’s portfolio, making the stock its 14th biggest position.

Other hedge funds have also modified their holdings of the company. EP Wealth Advisors LLC grew its holdings in shares of Analog Devices by 6.8% in the second quarter. EP Wealth Advisors LLC now owns 9,362 shares of the semiconductor company’s stock valued at $2,228,000 after purchasing an additional 595 shares in the last quarter. Engineers Gate Manager LP lifted its position in Analog Devices by 519.4% during the second quarter. Engineers Gate Manager LP now owns 132,679 shares of the semiconductor company’s stock valued at $31,580,000 after purchasing an additional 111,258 shares during the last quarter. Curi Capital LLC grew its stake in shares of Analog Devices by 17.5% in the 2nd quarter. Curi Capital LLC now owns 135,615 shares of the semiconductor company’s stock worth $32,279,000 after buying an additional 20,156 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Analog Devices by 12.4% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 23,734 shares of the semiconductor company’s stock worth $5,649,000 after buying an additional 2,611 shares during the last quarter. Finally, Brevan Howard Capital Management LP raised its position in shares of Analog Devices by 89.5% during the 2nd quarter. Brevan Howard Capital Management LP now owns 6,060 shares of the semiconductor company’s stock valued at $1,442,000 after buying an additional 2,862 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total value of $2,349,500.00. Following the completion of the sale, the chief executive officer owned 163,640 shares in the company, valued at approximately $38,447,218. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total value of $719,406.25. Following the completion of the transaction, the director directly owned 142,571 shares in the company, valued at approximately $32,821,269.91. This trade represents a 2.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 35,419 shares of company stock worth $8,791,598. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ADI shares. KeyCorp lifted their price target on Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. UBS Group boosted their target price on Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a research report on Monday. The Goldman Sachs Group restated a “buy” rating and set a $300.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. Bank of America lifted their price objective on shares of Analog Devices from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Finally, Robert W. Baird increased their target price on shares of Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $283.61.

Analog Devices Stock Performance

ADI stock opened at $279.32 on Friday. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $284.23. The firm has a market cap of $136.77 billion, a price-to-earnings ratio of 61.25, a PEG ratio of 1.57 and a beta of 1.04. The business’s fifty day simple moving average is $246.14 and its two-hundred day simple moving average is $240.13. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business’s revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 earnings per share. Analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, December 8th. Analog Devices’s dividend payout ratio is currently 86.84%.

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.