Natixis lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 196.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,736 shares of the semiconductor company’s stock after purchasing an additional 135,714 shares during the period. Natixis owned 0.06% of Analog Devices worth $35,247,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in ADI. Winslow Capital Management LLC acquired a new position in shares of Analog Devices during the 2nd quarter worth about $256,370,000. Theleme Partners LLP bought a new stake in shares of Analog Devices during the 1st quarter worth about $178,032,000. FMR LLC boosted its holdings in shares of Analog Devices by 10.2% during the 2nd quarter. FMR LLC now owns 10,306,157 shares of the semiconductor company’s stock worth $1,774,307,000 after buying an additional 953,893 shares during the period. abrdn plc boosted its holdings in shares of Analog Devices by 543.2% during the 2nd quarter. abrdn plc now owns 1,046,755 shares of the semiconductor company’s stock worth $180,246,000 after buying an additional 884,015 shares during the period. Finally, Amundi Asset Management US Inc. boosted its holdings in shares of Analog Devices by 29.0% during the 1st quarter. Amundi Asset Management US Inc. now owns 3,897,467 shares of the semiconductor company’s stock worth $604,419,000 after buying an additional 875,666 shares during the period. Institutional investors own 99.18% of the company’s stock.
ADI has been the subject of several research analyst reports. Stifel Nicolaus lifted their target price on shares of Analog Devices from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, August 19th. Truist Securities lifted their target price on shares of Analog Devices from $179.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, August 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Analog Devices from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, September 9th. Zacks Investment Research downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and set a $181.00 price objective for the company. in a report on Thursday, August 5th. Finally, Needham & Company LLC initiated coverage on shares of Analog Devices in a report on Thursday, September 9th. They issued a “buy” rating and a $200.00 price objective for the company. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $183.70.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, August 17th. The semiconductor company reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.71 billion. Analog Devices had a net margin of 26.15% and a return on equity of 18.86%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 EPS. On average, research analysts forecast that Analog Devices, Inc. will post 6.41 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Investors of record on Friday, August 27th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, August 26th. Analog Devices’s dividend payout ratio is presently 56.21%.
Analog Devices announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 25th that permits the company to repurchase $8.50 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 13.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Analog Devices news, Director Bruce R. Evans acquired 8,001 shares of the company’s stock in a transaction on Wednesday, October 6th. The shares were purchased at an average cost of $164.98 per share, with a total value of $1,320,004.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Friday, October 1st. The shares were sold at an average price of $168.09, for a total transaction of $1,680,900.00. The disclosure for this sale can be found here. 0.91% of the stock is owned by corporate insiders.
About Analog Devices
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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