Invesco LLC Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Invesco LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 28.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,519 shares of the semiconductor company’s stock after purchasing an additional 772 shares during the quarter. Invesco LLC’s holdings in Analog Devices were worth $748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new position in Analog Devices in the 3rd quarter worth about $28,000. Archer Investment Corp raised its holdings in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Analog Devices during the third quarter valued at approximately $43,000. Reston Wealth Management LLC purchased a new stake in Analog Devices in the third quarter worth approximately $48,000. Finally, Northwest Investment Counselors LLC bought a new stake in Analog Devices in the 3rd quarter worth approximately $80,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $1.20 during trading on Wednesday, hitting $210.72. 262,094 shares of the company’s stock were exchanged, compared to its average volume of 3,196,406. The business’s 50-day simple moving average is $216.52 and its 200 day simple moving average is $221.75. The company has a market cap of $104.55 billion, a price-to-earnings ratio of 64.15, a PEG ratio of 2.57 and a beta of 1.05. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the firm posted $2.01 EPS. The company’s revenue was down 10.1% on a year-over-year basis. As a group, equities analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is currently 111.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADI shares. Barclays lowered their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Morgan Stanley cut their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Finally, TD Cowen dropped their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $248.70.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $11,029,300 in the last 90 days. Insiders own 0.31% of the company’s stock.

Analog Devices Company 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.