Magnetar Financial LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 90.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,770 shares of the semiconductor company's stock after selling 16,293 shares during the period. Magnetar Financial LLC's holdings in Analog Devices were worth $404,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Point72 Italy S.r.l. bought a new stake in shares of Analog Devices during the 4th quarter worth $6,367,000. Grayhawk Investment Strategies Inc. bought a new stake in shares of Analog Devices during the 4th quarter worth $850,000. Capital International Investors boosted its holdings in shares of Analog Devices by 5.8% during the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company's stock worth $895,702,000 after buying an additional 246,799 shares during the period. Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Analog Devices by 1,055.6% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company's stock worth $45,326,000 after buying an additional 208,522 shares during the period. Finally, Profund Advisors LLC boosted its holdings in shares of Analog Devices by 16.2% during the 4th quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company's stock worth $14,365,000 after buying an additional 10,106 shares during the period. 86.81% of the stock is owned by institutional investors.
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward H. Frank sold 995 shares of the firm's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares of the company's stock, valued at approximately $879,365.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,495 shares of company stock worth $7,181,458. 0.31% of the stock is currently owned by corporate insiders.
Shares of Analog Devices stock opened at $227.33 on Wednesday. The stock has a market capitalization of $112.81 billion, a P/E ratio of 53.11, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company has a 50-day simple moving average of $223.24 and a 200 day simple moving average of $216.85. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14.
Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm's revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter last year, the company posted $2.49 EPS. Research analysts expect that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.62%. The ex-dividend date was Tuesday, September 3rd. Analog Devices's payout ratio is presently 85.98%.
A number of brokerages have weighed in on ADI. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, August 22nd. Barclays increased their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, July 18th. Oppenheimer reissued an "outperform" rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a "buy" rating to a "hold" rating and reduced their price target for the company from $266.00 to $233.00 in a report on Monday. Finally, Morgan Stanley increased their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $249.80.
View Our Latest Stock Analysis on ADI
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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