Analog Devices, Inc. $ADI Stake Boosted by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 84.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,517 shares of the semiconductor company’s stock after purchasing an additional 104,918 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Analog Devices were worth $56,147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Vanguard Group Inc. increased its position in Analog Devices by 0.3% in the third quarter. Vanguard Group Inc. now owns 50,389,306 shares of the semiconductor company’s stock worth $12,380,652,000 after buying an additional 162,075 shares during the period. State Street Corp grew its position in shares of Analog Devices by 2.2% during the second quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock worth $5,549,973,000 after acquiring an additional 506,507 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Analog Devices by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after acquiring an additional 633,425 shares during the period. Norges Bank bought a new stake in Analog Devices in the 2nd quarter valued at about $1,803,377,000. Finally, Ameriprise Financial Inc. grew its position in Analog Devices by 6.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock worth $1,506,448,000 after purchasing an additional 375,207 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADI. Wells Fargo & Company set a $340.00 price target on Analog Devices and gave the company an “overweight” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. lifted their target price on Analog Devices from $310.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Oppenheimer boosted their price target on Analog Devices from $265.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Truist Financial increased their price target on Analog Devices from $258.00 to $291.00 and gave the stock a “hold” rating in a research note on Friday, December 19th. Finally, Weiss Ratings cut shares of Analog Devices from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 20th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.87.

Insider Buying and Selling at Analog Devices

In other news, CAO Michael Sondel sold 8,169 shares of the stock in a transaction on Wednesday, December 10th. The stock was 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 in the company, valued at approximately $5,258,381.39. This represents a 30.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $317.30, for a total value of $991,562.50. Following the completion of the transaction, the director owned 123,821 shares in the company, valued at $39,288,403.30. The trade was a 2.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 53,544 shares of company stock valued at $15,320,417. Corporate insiders own 0.36% of the company’s stock.

Analog Devices Stock Up 1.7%

ADI opened at $337.10 on Tuesday. 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 capitalization of $164.72 billion, a PE ratio of 73.93, a P/E/G ratio of 1.93 and a beta of 1.03. The stock’s fifty day moving average is $297.14 and its 200-day moving average is $261.77. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $343.96.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the company earned $1.67 earnings per share. Analog Devices’s revenue was up 25.9% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, December 8th. Analog Devices’s payout ratio is presently 86.84%.

Analog Devices 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.