Principal Financial Group Inc. Lowers Position in Analog Devices, Inc. $ADI

Principal Financial Group Inc. trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 537,085 shares of the semiconductor company’s stock after selling 4,393 shares during the quarter. Principal Financial Group Inc.’s holdings in Analog Devices were worth $131,962,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Analog Devices

In other Analog Devices news, SVP Katsufumi Nakamura sold 500 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $301.46, for a total value of $150,730.00. Following the completion of the sale, the senior vice president owned 12,710 shares in the company, valued at approximately $3,831,556.60. This trade represents a 3.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael Sondel sold 8,169 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,419 shares of company stock valued at $11,259,655 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ADI shares. Citigroup raised their price target on Analog Devices from $290.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Morgan Stanley reiterated an “overweight” rating and set a $314.00 price objective on shares of Analog Devices in a research report on Friday, January 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 price objective on shares of Analog Devices in a report on Tuesday, December 16th. JPMorgan Chase & Co. boosted their target price on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Finally, Bank of America increased their price target on shares of Analog Devices from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Three 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 Stock Performance

NASDAQ:ADI opened at $316.86 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. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $319.26. The firm has a market cap of $154.83 billion, a PE ratio of 69.49, a price-to-earnings-growth ratio of 1.69 and a beta of 1.03. The business has a 50 day moving average price of $285.62 and a 200-day moving average price of $255.09.

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

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a dividend of $0.99 per share. 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 dividend payout ratio is currently 86.84%.

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.