Thrivent Financial for Lutherans Has $14.89 Million Holdings in Analog Devices, Inc. $ADI

Thrivent Financial for Lutherans grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 132.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,560 shares of the semiconductor company’s stock after acquiring an additional 35,682 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Analog Devices were worth $14,887,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Howard Hughes Medical Institute acquired a new position in Analog Devices during the 2nd quarter worth approximately $25,000. Activest Wealth Management grew its stake in shares of Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 127 shares during the last quarter. RMG Wealth Management LLC acquired a new position in shares of Analog Devices during the second quarter worth $26,000. Saudi Central Bank bought a new position in shares of Analog Devices in the 1st quarter valued at $39,000. Finally, Nova Wealth Management Inc. acquired a new stake in shares of Analog Devices during the 1st quarter valued at $42,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Down 0.7%

Shares of NASDAQ ADI opened at $278.40 on Wednesday. The company’s 50 day moving average price is $247.79 and its 200-day moving average price is $241.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $284.23. The company has a market capitalization of $136.32 billion, a P/E ratio of 61.05, a price-to-earnings-growth ratio of 1.56 and a beta of 1.04.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be given a dividend of $0.99 per share. The ex-dividend date is Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.4%. Analog Devices’s dividend payout ratio is presently 86.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore ISI lowered their target price on Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. Robert W. Baird raised their price objective on shares of Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, November 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 target price on shares of Analog Devices in a research report on Tuesday. Stifel Nicolaus set a $280.00 price target on shares of Analog Devices in a research report on Friday, November 21st. Finally, KeyCorp raised their price target on shares of Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $285.78.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the firm’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 transaction of $2,349,500.00. Following the completion of the sale, the chief executive officer owned 163,640 shares of the company’s stock, valued at $38,447,218. This trade represents a 5.76% 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, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the transaction, the chief accounting officer directly owned 18,913 shares in the company, valued at approximately $5,258,381.39. This trade represents a 30.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 32,294 shares of company stock worth $8,019,973. Company insiders own 0.33% of the company’s stock.

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.