Natixis Advisors LLC Raises Position in Analog Devices, Inc. (NASDAQ:ADI)

by · The Cerbat Gem

Natixis Advisors LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 763,472 shares of the semiconductor company’s stock after buying an additional 49,612 shares during the period. Natixis Advisors LLC owned about 0.15% of Analog Devices worth $175,728,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ADI. Archer Investment Corp boosted its stake in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the last quarter. Empirical Finance LLC increased its position in shares of Analog Devices by 2.0% during the third quarter. Empirical Finance LLC now owns 17,370 shares of the semiconductor company’s stock valued at $3,998,000 after acquiring an additional 335 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Analog Devices by 4.8% during the third quarter. CIBC Asset Management Inc now owns 179,698 shares of the semiconductor company’s stock worth $41,361,000 after acquiring an additional 8,239 shares during the period. Oak Harbor Wealth Partners LLC purchased a new position in Analog Devices in the third quarter worth $1,175,000. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in Analog Devices by 5.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,582 shares of the semiconductor company’s stock valued at $3,126,000 after purchasing an additional 700 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $249.80.

Check Out Our Latest Stock Report on Analog Devices

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the sale, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at $10,376,481.18. The trade was a 18.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 over the last 90 days. 0.31% of the stock is owned by insiders.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $206.35 on Friday. The firm has a market capitalization of $102.45 billion, a P/E ratio of 61.97, a P/E/G ratio of 2.98 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The stock’s 50-day simple moving average is $225.88 and its two-hundred day simple moving average is $224.95. Analog Devices, Inc. has a twelve month low of $178.66 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI – Get Free Report) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the firm posted $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. As a group, equities analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.78%. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

About Analog Devices

(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.

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