Treasurer of the State of North Carolina Buys 119,231 Shares of Analog Devices, Inc. $ADI

by · The Cerbat Gem

Treasurer of the State of North Carolina boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 44.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 384,515 shares of the semiconductor company’s stock after buying an additional 119,231 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Analog Devices were worth $91,522,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. FAS Wealth Partners Inc. acquired a new stake in shares of Analog Devices in the 2nd quarter valued at approximately $301,000. Faithward Advisors LLC raised its position in Analog Devices by 6.2% during the second quarter. Faithward Advisors LLC now owns 4,621 shares of the semiconductor company’s stock worth $1,100,000 after acquiring an additional 268 shares in the last quarter. Sei Investments Co. raised its position in Analog Devices by 43.4% during the second quarter. Sei Investments Co. now owns 451,984 shares of the semiconductor company’s stock worth $107,579,000 after acquiring an additional 136,846 shares in the last quarter. Tenere Capital LLC acquired a new stake in Analog Devices in the second quarter valued at $24,516,000. Finally, EDENTREE ASSET MANAGEMENT Ltd grew its position in shares of Analog Devices by 13.1% in the 2nd quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 54,650 shares of the semiconductor company’s stock valued at $13,005,000 after acquiring an additional 6,325 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ADI shares. Wells Fargo & Company upped their target price on shares of Analog Devices from $250.00 to $265.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Cantor Fitzgerald upped their price objective on Analog Devices from $270.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Analog Devices in a research report on Monday. Piper Sandler set a $290.00 target price on Analog Devices in a report on Tuesday, November 25th. Finally, Truist Financial increased their price target on Analog Devices from $249.00 to $258.00 and gave the company a “hold” rating in a research note on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $283.61.

Get Our Latest Report on Analog Devices

Insider Buying and Selling 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 directly 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 filing with the SEC, which is accessible through this link. 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 sale, the director directly owned 142,571 shares in the company, valued at $32,821,269.91. This represents a 2.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 35,419 shares of company stock worth $8,791,598. 0.33% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $283.39 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. The firm has a market cap of $138.76 billion, a price-to-earnings ratio of 62.15, a P/E/G ratio of 1.56 and a beta of 1.04. The stock’s fifty day moving average price is $245.39 and its two-hundred day moving average price is $239.65. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $283.81.

Analog Devices (NASDAQ:ADI – Get Free Report) last announced 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. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The firm 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 $0.99 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. Analog Devices’s payout ratio is currently 86.84%.

Analog Devices Company 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.

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