Cerity Partners LLC Has $62.44 Million Stake in Analog Devices, Inc. $ADI

Cerity Partners LLC raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 262,331 shares of the semiconductor company’s stock after buying an additional 1,871 shares during the period. Cerity Partners LLC’s holdings in Analog Devices were worth $62,438,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADI. Baader Bank Aktiengesellschaft increased its position in Analog Devices by 3.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock worth $270,000 after purchasing an additional 43 shares during the period. Bennett Associates Wealth Management lifted its position in Analog Devices by 2.9% during the 2nd quarter. Bennett Associates Wealth Management now owns 1,624 shares of the semiconductor company’s stock valued at $387,000 after purchasing an additional 46 shares during the period. Solstein Capital LLC boosted its stake in shares of Analog Devices by 2.0% in the 2nd quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock valued at $549,000 after purchasing an additional 46 shares during the last quarter. Keystone Financial Services grew its position in shares of Analog Devices by 1.2% during the 2nd quarter. Keystone Financial Services now owns 3,837 shares of the semiconductor company’s stock worth $913,000 after buying an additional 46 shares during the period. Finally, EFG Asset Management North America Corp. grew its position in shares of Analog Devices by 0.3% during the 1st quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company’s stock worth $2,866,000 after buying an additional 47 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADI has been the topic of a number of recent research reports. BNP Paribas initiated coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective on the stock. Truist Financial raised their price target on Analog Devices from $249.00 to $258.00 and gave the stock a “hold” rating in a research report on Wednesday, November 26th. Cfra reaffirmed a “buy” rating and set a $280.00 price objective on shares of Analog Devices in a research note on Tuesday, November 25th. Weiss Ratings upgraded Analog Devices from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 1st. Finally, JPMorgan Chase & Co. raised their target price on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.87.

Analog Devices Price Performance

ADI opened at $281.29 on Monday. 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, Inc. has a 12 month low of $158.65 and a 12 month high of $283.23. The company has a fifty day simple moving average of $242.41 and a 200 day simple moving average of $238.11. The stock has a market cap of $137.73 billion, a P/E ratio of 61.69, a P/E/G ratio of 1.56 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last posted its earnings results 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 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 posted $1.67 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, research analysts expect 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. Investors of record on Monday, December 8th will be given a $0.99 dividend. The ex-dividend date is Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.4%. Analog Devices’s payout ratio is currently 86.84%.

Insider Buying and Selling

In other news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total value of $719,406.25. Following the completion of the transaction, the director owned 142,571 shares in the company, valued at $32,821,269.91. This represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $242.74, for a total transaction of $242,740.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 27,250 shares of company stock valued at $6,520,371. 0.33% of the stock is owned by corporate insiders.

Analog Devices Company 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.