Flossbach Von Storch SE Purchases 91,057 Shares of Analog Devices, Inc. $ADI

Flossbach Von Storch SE boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 21.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 517,199 shares of the semiconductor company’s stock after buying an additional 91,057 shares during the period. Flossbach Von Storch SE’s holdings in Analog Devices were worth $127,076,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Analog Devices by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after acquiring an additional 761,861 shares in the last quarter. State Street Corp increased its position in Analog Devices by 2.2% in the second quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock worth $5,549,973,000 after purchasing an additional 506,507 shares during the last quarter. Geode Capital Management LLC increased its position in Analog Devices by 5.7% in the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after purchasing an additional 633,425 shares during the last quarter. Norges Bank purchased a new stake in Analog Devices during the second quarter valued at $1,803,377,000. Finally, Ameriprise Financial Inc. lifted its position in Analog Devices by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock valued at $1,506,448,000 after purchasing an additional 375,207 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other news, CAO Michael Sondel sold 8,169 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the sale, the chief accounting officer owned 18,913 shares of the company’s stock, valued at approximately $5,258,381.39. The trade was a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $297.27, for a total value of $928,968.75. Following the completion of the sale, the director owned 130,071 shares of the company’s stock, valued at $38,666,206.17. The trade was a 2.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,544 shares of company stock worth $14,328,561 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Analog Devices Trading Up 4.5%

Shares of NASDAQ ADI opened at $317.63 on Thursday. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $318.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The company has a market cap of $155.20 billion, a price-to-earnings ratio of 69.66, a PEG ratio of 1.64 and a beta of 1.03. The business’s 50 day moving average price is $280.63 and its 200-day moving average price is $253.44.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is currently 86.84%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 target price on shares of Analog Devices in a report on Tuesday, December 16th. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Bank of America upped their price objective on Analog Devices from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Piper Sandler set a $290.00 target price on Analog Devices in a report on Tuesday, November 25th. Finally, Susquehanna boosted their target price on Analog Devices from $350.00 to $360.00 and gave the company a “positive” rating in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $312.04.

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.