Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Eagle Asset Management Inc.

Eagle Asset Management Inc. lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 644,527 shares of the semiconductor company’s stock after acquiring an additional 21,798 shares during the period. Analog Devices accounts for about 0.8% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 26th largest position. Eagle Asset Management Inc.’s holdings in Analog Devices were worth $145,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Analog Devices by 19.5% in the 1st 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. Van ECK Associates Corp lifted its position in Analog Devices by 17.3% during the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after acquiring an additional 700,862 shares in the last quarter. American Century Companies Inc. grew its holdings in Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after purchasing an additional 767,534 shares in the last quarter. Legal & General Group Plc lifted its holdings in Analog Devices by 5.3% in the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after buying an additional 211,202 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Analog Devices by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock valued at $720,933,000 after acquiring an additional 171,893 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Up 1.1 %

NASDAQ ADI opened at $213.36 on Friday. The company has a market capitalization of $105.93 billion, a P/E ratio of 64.07, a PEG ratio of 2.97 and a beta of 1.08. Analog Devices, Inc. has a 12 month low of $179.63 and a 12 month high of $244.14. The company’s 50 day simple moving average is $225.09 and its 200 day simple moving average is $225.33. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.49 earnings per share. Equities research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Insider Activity

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,995 shares of company stock worth $25,116,338 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and dropped their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Oppenheimer reiterated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America decreased their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Morgan Stanley upped their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $249.80.

About Analog Devices

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.