Securian Asset Management Inc. Decreases Stock Position in Analog Devices, Inc. $ADI

Securian Asset Management Inc. trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,962 shares of the semiconductor company’s stock after selling 1,905 shares during the quarter. Securian Asset Management Inc.’s holdings in Analog Devices were worth $5,887,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Cerity Partners LLC grew its position in shares of Analog Devices by 15.5% during the third quarter. Cerity Partners LLC now owns 303,069 shares of the semiconductor company’s stock worth $74,463,000 after buying an additional 40,738 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Analog Devices by 4.4% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 54,244 shares of the semiconductor company’s stock worth $13,328,000 after acquiring an additional 2,267 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Analog Devices by 55.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,204,226 shares of the semiconductor company’s stock worth $295,878,000 after acquiring an additional 427,467 shares in the last quarter. Longboard Asset Management LP purchased a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $216,000. Finally, D.A. Davidson & CO. raised its holdings in shares of Analog Devices by 3.4% in the 3rd quarter. D.A. Davidson & CO. now owns 9,472 shares of the semiconductor company’s stock valued at $2,327,000 after purchasing an additional 310 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $275.07, for a total transaction of $2,750,700.00. Following the transaction, the chief executive officer owned 155,688 shares of the company’s stock, valued at $42,825,098.16. This trade represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the transaction, the chief accounting officer owned 18,913 shares in the company, valued at $5,258,381.39. This trade represents a 30.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 39,419 shares of company stock valued at $10,319,877. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ADI shares. Truist Financial boosted their target price on shares of Analog Devices from $258.00 to $291.00 and gave the stock a “hold” rating in a research note on Friday, December 19th. Robert W. Baird increased their price objective on Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, November 26th. UBS Group raised their target price on Analog Devices from $280.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Morgan Stanley upped their price target on Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Finally, Benchmark reiterated a “buy” rating and issued a $285.00 price target on shares of Analog Devices in a research note on Wednesday, November 26th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.22.

Analog Devices Trading Up 5.6%

NASDAQ:ADI opened at $292.94 on Wednesday. The company has a market capitalization of $143.44 billion, a PE ratio of 64.24, a P/E/G ratio of 1.53 and a beta of 1.03. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $294.15. The stock’s 50 day moving average price is $258.83 and its 200 day moving average price is $246.68. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.67 earnings per share. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.