Empirical Finance LLC Acquires 335 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Empirical Finance LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,370 shares of the semiconductor company’s stock after purchasing an additional 335 shares during the period. Empirical Finance LLC’s holdings in Analog Devices were worth $3,998,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ADI. Swedbank AB acquired a new position in shares of Analog Devices during the first quarter worth approximately $537,171,000. Vanguard Group Inc. raised its position in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after buying an additional 2,160,668 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after acquiring an additional 1,753,536 shares during the last quarter. Raymond James & Associates grew its stake in shares of Analog Devices by 153.6% in the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after acquiring an additional 1,422,054 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of 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 during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

Analog Devices stock opened at $209.00 on Friday. Analog Devices, Inc. has a fifty-two week low of $178.66 and a fifty-two week high of $244.14. The firm’s fifty day moving average price is $226.16 and its 200-day moving average price is $225.02. The stock has a market cap of $103.77 billion, a P/E ratio of 63.74, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data 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 firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.49 EPS. On average, equities research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 110.51%.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,672,108.91. The trade was a 16.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,495 shares of company stock valued at $25,229,958 over the last three months. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays lifted their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Bank of America reduced their price objective 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. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

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.