Engineers Gate Manager LP Buys 111,258 Shares of Analog Devices, Inc. $ADI

by · The Cerbat Gem

Engineers Gate Manager LP increased its stake in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 519.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,679 shares of the semiconductor company’s stock after purchasing an additional 111,258 shares during the period. Engineers Gate Manager LP’s holdings in Analog Devices were worth $31,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADI. Howard Hughes Medical Institute bought a new position in shares of Analog Devices during the second quarter worth about $25,000. Activest Wealth Management boosted its position in Analog Devices by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 127 shares during the last quarter. RMG Wealth Management LLC acquired a new position in Analog Devices during the 2nd quarter worth approximately $26,000. Saudi Central Bank bought a new position in shares of Analog Devices during the 1st quarter worth approximately $39,000. Finally, Nova Wealth Management Inc. acquired a new stake in shares of Analog Devices in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CAO Michael Sondel sold 8,169 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the transaction, the chief accounting officer directly owned 18,913 shares in the company, valued at $5,258,381.39. The trade was a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward H. Frank sold 1,000 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the transaction, the director directly owned 5,118 shares in the company, valued at $1,242,343.32. The trade was a 16.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 35,419 shares of company stock valued at $8,791,598. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Evercore ISI reduced their target price on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. BNP Paribas Exane began coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Analog Devices from $310.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Morgan Stanley upped their target price on Analog Devices from $288.00 to $293.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $300.00 price target on shares of Analog Devices in a research note on Tuesday, November 25th. Two 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 data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $283.61.

View Our Latest Stock Analysis on Analog Devices

Analog Devices Trading Down 1.4%

Shares of NASDAQ:ADI opened at $279.32 on Friday. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $284.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The company has a market capitalization of $136.77 billion, a P/E ratio of 61.25, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. The company has a 50-day simple moving average of $246.14 and a 200 day simple moving average of $240.13.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the prior year, the company earned $1.67 earnings per share. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. Sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.4%. Analog Devices’s dividend payout ratio (DPR) is currently 86.84%.

Analog Devices Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI – Free Report).