Allspring Global Investments Holdings LLC Buys 38,214 Shares of Analog Devices, Inc. $ADI

Allspring Global Investments Holdings LLC grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 26.2% in the 3rd quarter, Holdings Channel reports. The firm owned 184,278 shares of the semiconductor company’s stock after acquiring an additional 38,214 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Analog Devices were worth $44,094,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADI. Baader Bank Aktiengesellschaft grew its position in shares of Analog Devices by 3.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock worth $270,000 after buying an additional 43 shares during the period. Sivia Capital Partners LLC boosted its stake in Analog Devices by 2.5% during the third quarter. Sivia Capital Partners LLC now owns 1,796 shares of the semiconductor company’s stock worth $441,000 after acquiring an additional 44 shares in the last quarter. Bennett Associates Wealth Management grew its holdings in Analog Devices by 2.9% in the second quarter. Bennett Associates Wealth Management now owns 1,624 shares of the semiconductor company’s stock worth $387,000 after purchasing an additional 46 shares during the period. Solstein Capital LLC increased its stake in Analog Devices by 2.0% in the second 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 in the last quarter. Finally, Keystone Financial Services increased its stake in Analog Devices by 1.2% in the second quarter. Keystone Financial Services now owns 3,837 shares of the semiconductor company’s stock valued at $913,000 after purchasing an additional 46 shares in 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 recently weighed in on ADI. Evercore ISI dropped their price target on Analog Devices from $303.00 to $282.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Wall Street Zen downgraded Analog Devices from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Cfra reiterated a “buy” rating and issued a $280.00 target price on shares of Analog Devices in a report on Tuesday, November 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 price target on shares of Analog Devices in a research report on Tuesday, December 16th. Finally, BNP Paribas Exane assumed coverage on shares of Analog Devices in a report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.22.

Analog Devices Stock Down 1.3%

Shares of NASDAQ:ADI opened at $271.20 on Friday. The business’s 50 day moving average is $256.36 and its 200 day moving average is $245.36. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $284.23. The stock has a market cap of $132.79 billion, a price-to-earnings ratio of 59.47, a PEG ratio of 1.50 and a beta of 1.03. 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 the consensus estimate of $2.22 by $0.04. The business had revenue of $3.08 billion for 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 business’s revenue was up 25.9% on a year-over-year basis. During the same period last year, the business earned $1.67 EPS. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward H. Frank sold 1,000 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the sale, the director owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. This trade represents a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,419 shares of company stock valued at $7,811,917 in the last quarter. 0.33% of the stock is owned by company insiders.

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.