Swedbank AB Acquires 249,363 Shares of Analog Devices, Inc. $ADI

Swedbank AB increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 7.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,617,195 shares of the semiconductor company’s stock after buying an additional 249,363 shares during the period. Analog Devices comprises 0.9% of Swedbank AB’s investment portfolio, making the stock its 15th biggest holding. Swedbank AB’s holdings in Analog Devices were worth $888,745,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ADI. Optas LLC raised its position in Analog Devices by 16.8% in the third quarter. Optas LLC now owns 1,989 shares of the semiconductor company’s stock worth $489,000 after acquiring an additional 286 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Analog Devices by 3.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 15,449 shares of the semiconductor company’s stock worth $3,796,000 after purchasing an additional 537 shares during the period. Cypress Wealth Services LLC purchased a new position in Analog Devices in the third quarter valued at approximately $216,000. Meriwether Wealth & Planning LLC grew its holdings in Analog Devices by 1.8% during the third quarter. Meriwether Wealth & Planning LLC now owns 4,062 shares of the semiconductor company’s stock valued at $998,000 after purchasing an additional 70 shares during the period. Finally, IFM Investors Pty Ltd increased its position in Analog Devices by 1.5% in the third quarter. IFM Investors Pty Ltd now owns 99,190 shares of the semiconductor company’s stock worth $24,555,000 after buying an additional 1,456 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.3%

ADI stock opened at $276.73 on Wednesday. The stock has a 50-day simple moving average of $251.82 and a two-hundred day simple moving average of $243.36. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $284.23. The firm has a market capitalization of $135.50 billion, a PE ratio of 60.69, a PEG ratio of 1.52 and a beta of 1.04. 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 announced its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 earnings per share. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Robert W. Baird upped their price target on Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Bank of America boosted their price objective on Analog Devices from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Evercore ISI cut their target price on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. Benchmark reiterated a “buy” rating and issued a $285.00 target price on shares of Analog Devices in a research note on Wednesday, November 26th. Finally, Truist Financial boosted their price target on shares of Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.22.

Insider Activity

In other news, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the transaction, the director owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $279.39, for a total value of $873,093.75. Following the sale, the director directly owned 136,321 shares of the company’s stock, valued at $38,086,724.19. This represents a 2.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 40,419 shares of company stock worth $10,249,017. Company insiders own 0.33% of the company’s stock.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.