Adams Diversified Equity Fund Inc. Has $22.58 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Adams Diversified Equity Fund Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 12.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,100 shares of the semiconductor company’s stock after selling 13,900 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in Analog Devices were worth $22,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Swedbank AB purchased a new position in shares of Analog Devices during the first quarter valued at $537,171,000. Vanguard Group Inc. grew its stake in Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Analog Devices by 17,535,360.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after purchasing an additional 1,753,536 shares in the last quarter. Raymond James & Associates grew its stake in Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after purchasing an additional 1,422,054 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the sale, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the sale, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,495 shares of company stock valued at $20,794,658. Company insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 2.2 %

ADI opened at $235.23 on Wednesday. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The firm has a 50-day moving average price of $227.17 and a two-hundred day moving average price of $222.82. The stock has a market capitalization of $116.79 billion, a PE ratio of 70.64, a PEG ratio of 3.87 and a beta of 1.07. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion for 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%. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 earnings per share. As a group, equities analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.56%. Analog Devices’s dividend payout ratio (DPR) is currently 110.51%.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Bank of America decreased their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $249.80.

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.