Soros Fund Management LLC Sells 60,000 Shares of Analog Devices, Inc. $ADI

by · The Markets Daily

Soros Fund Management LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 56.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,200 shares of the semiconductor company’s stock after selling 60,000 shares during the period. Soros Fund Management LLC’s holdings in Analog Devices were worth $10,997,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Analog Devices by 1.5% in the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock valued at $11,955,086,000 after acquiring an additional 761,861 shares during the last quarter. State Street Corp raised its holdings in shares of Analog Devices by 2.2% in the 2nd quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock valued at $5,549,973,000 after purchasing an additional 506,507 shares during the period. Geode Capital Management LLC lifted its stake in Analog Devices by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock valued at $2,770,448,000 after purchasing an additional 633,425 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Analog Devices by 26.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock worth $2,304,098,000 after purchasing an additional 2,407,460 shares during the period. Finally, Norges Bank acquired a new position in Analog Devices during the second quarter worth approximately $1,803,377,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity

In related news, Director Edward H. Frank sold 1,000 shares of Analog Devices stock in a transaction that occurred 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 directly owned 5,118 shares of the company’s stock, valued at $1,242,343.32. This trade represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $719,406.25. Following the sale, the director owned 142,571 shares of the company’s stock, valued at $32,821,269.91. The trade was a 2.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 35,419 shares of company stock valued at $8,791,598 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Analog Devices Stock Up 0.6%

NASDAQ ADI opened at $283.39 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The company has a market cap of $138.76 billion, a price-to-earnings ratio of 62.15, a PEG ratio of 1.56 and a beta of 1.04. The company has a 50 day moving average of $245.39 and a 200-day moving average of $239.65. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $283.81.

Analog Devices (NASDAQ:ADI – Get Free Report) last announced its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.67 EPS. On average, equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced 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. This represents a $3.96 annualized dividend 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 currently 86.84%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ADI shares. Piper Sandler set a $290.00 price objective on shares of Analog Devices in a report on Tuesday, November 25th. Bank of America upped their price target on shares of Analog Devices from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Morgan Stanley raised their price objective on shares of Analog Devices from $288.00 to $293.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Stifel Nicolaus set a $280.00 target price on Analog Devices in a research report on Friday, November 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.61.

View Our Latest Research Report on ADI

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.

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