Invesco Ltd. Has $1.84 Billion Stock Position in Analog Devices, Inc. $ADI

Invesco Ltd. lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,738,735 shares of the semiconductor company’s stock after selling 317,039 shares during the quarter. Invesco Ltd.’s holdings in Analog Devices were worth $1,841,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ADI. 1832 Asset Management L.P. boosted its stake in Analog Devices by 208.6% during the second quarter. 1832 Asset Management L.P. now owns 74,725 shares of the semiconductor company’s stock worth $17,786,000 after buying an additional 50,512 shares in the last quarter. CW Advisors LLC lifted its holdings in shares of Analog Devices by 14.8% during the 2nd quarter. CW Advisors LLC now owns 123,150 shares of the semiconductor company’s stock worth $29,312,000 after acquiring an additional 15,841 shares during the period. PharVision Advisers LLC boosted its position in shares of Analog Devices by 4.5% during the 2nd quarter. PharVision Advisers LLC now owns 1,725 shares of the semiconductor company’s stock valued at $411,000 after acquiring an additional 74 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Analog Devices during the 2nd quarter valued at about $126,000. Finally, Pinkerton Wealth LLC increased its stake in Analog Devices by 1.6% in the second quarter. Pinkerton Wealth LLC now owns 13,895 shares of the semiconductor company’s stock valued at $3,307,000 after acquiring an additional 218 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

Analog Devices stock opened at $272.97 on Wednesday. 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 firm has a market capitalization of $133.66 billion, a P/E ratio of 59.86, a PEG ratio of 1.48 and a beta of 1.04. The business has a 50-day moving average of $240.55 and a 200-day moving average of $236.95. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $274.13.

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

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Insiders Place Their Bets

In other news, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $242.74, for a total transaction of $242,740.00. Following the sale, the director 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total value of $719,406.25. Following the completion of the transaction, the director owned 142,571 shares of the company’s stock, valued at $32,821,269.91. This represents a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 39,750 shares of company stock valued at $9,598,496. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ADI. Benchmark reaffirmed a “buy” rating and set a $285.00 price objective on shares of Analog Devices in a report on Wednesday, November 26th. Bank of America boosted their price target on 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 lifted their price target on shares of Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Robert W. Baird lifted their price objective on Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Finally, Piper Sandler set a $290.00 price target on shares of Analog Devices in a research note on Tuesday, November 25th. Two investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $281.87.

Analog Devices Profile

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.