Analog Devices, Inc. $ADI is Lansdowne Partners UK LLP’s 9th Largest Position

Lansdowne Partners UK LLP trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 25.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 146,488 shares of the semiconductor company’s stock after selling 50,341 shares during the period. Analog Devices makes up about 4.5% of Lansdowne Partners UK LLP’s investment portfolio, making the stock its 9th largest holding. Lansdowne Partners UK LLP’s holdings in Analog Devices were worth $34,867,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ADI. Solstein Capital LLC boosted its position in Analog Devices by 2.0% in the second quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock worth $549,000 after purchasing an additional 46 shares during the last quarter. West Family Investments Inc. purchased a new stake in shares of Analog Devices during the 2nd quarter valued at about $376,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Analog Devices by 7.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,001,839 shares of the semiconductor company’s stock worth $238,458,000 after purchasing an additional 71,735 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Analog Devices by 13.7% in the second quarter. Nisa Investment Advisors LLC now owns 203,286 shares of the semiconductor company’s stock worth $48,386,000 after buying an additional 24,425 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Analog Devices by 88.2% during the second quarter. Bank of Montreal Can now owns 1,040,536 shares of the semiconductor company’s stock valued at $247,668,000 after buying an additional 487,535 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ADI shares. Barclays increased their price target on shares of Analog Devices from $185.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 21st. Truist Financial raised their target price on Analog Devices from $249.00 to $258.00 and gave the stock a “hold” rating in a report on Wednesday, November 26th. BNP Paribas Exane started coverage on Analog Devices in a research report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price on the stock. KeyCorp upped 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. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Analog Devices in a research note on Tuesday, November 25th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $281.87.

Analog Devices Price Performance

NASDAQ:ADI opened at $281.29 on Monday. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The business’s 50-day simple moving average is $242.41 and its two-hundred day simple moving average is $238.11. The stock has a market cap of $137.73 billion, a PE ratio of 61.69, a P/E/G ratio of 1.56 and a beta of 1.03. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $283.23.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping 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 return on equity of 11.23% and a net margin of 20.58%.The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.67 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

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

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total value of $2,349,500.00. Following the transaction, the chief executive officer owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the transaction, the director owned 142,571 shares of the company’s stock, valued at approximately $32,821,269.91. This represents a 2.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,250 shares of company stock worth $6,520,371 over the last quarter. Insiders own 0.33% of the company’s stock.

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.