First Trust Advisors LP Has $228.68 Million Stock Holdings in Analog Devices, Inc. $ADI

First Trust Advisors LP lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 32.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 960,769 shares of the semiconductor company’s stock after selling 462,467 shares during the period. First Trust Advisors LP owned about 0.19% of Analog Devices worth $228,682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ADI. Activest Wealth Management boosted its position in Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. RMG Wealth Management LLC acquired a new position in Analog Devices in the 2nd quarter worth about $26,000. Saudi Central Bank acquired a new position in Analog Devices in the 1st quarter worth about $39,000. Nova Wealth Management Inc. purchased a new stake in shares of Analog Devices during the 1st quarter worth about $42,000. Finally, Access Investment Management LLC acquired a new stake in shares of Analog Devices during the 2nd quarter valued at about $45,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Down 0.4%

ADI stock opened at $277.26 on Friday. The stock has a market capitalization of $135.76 billion, a price-to-earnings ratio of 60.80, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a 50-day moving average of $241.74 and a two-hundred day moving average of $237.51. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $279.55. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business 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 firm earned $1.67 EPS. The firm’s revenue was up 25.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, December 8th. Analog Devices’s dividend payout ratio is currently 86.84%.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total value of $2,349,500.00. Following the sale, the chief executive officer directly owned 163,640 shares in the company, valued at $38,447,218. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 1,000 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $242.74, for a total transaction of $242,740.00. Following the transaction, the director owned 5,118 shares in the company, valued at approximately $1,242,343.32. The trade was a 16.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 27,250 shares of company stock worth $6,520,371. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADI. Zacks Research downgraded Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $310.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Morgan Stanley lifted their price objective on shares of Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Weiss Ratings raised shares of Analog Devices from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Cfra restated a “buy” rating and set a $280.00 target price on shares of Analog Devices in a report on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $281.87.

Analog Devices 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.