Thrivent Financial for Lutherans Has $23.94 Million Stock Holdings in Analog Devices, Inc. $ADI

Thrivent Financial for Lutherans grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 55.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 97,423 shares of the semiconductor company’s stock after buying an additional 34,863 shares during the period. Thrivent Financial for Lutherans’ holdings in Analog Devices were worth $23,936,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Howard Hughes Medical Institute bought a new stake in shares of Analog Devices in the second quarter worth about $25,000. RMG Wealth Management LLC acquired a new position in shares of Analog Devices in the 2nd quarter valued at approximately $26,000. Clayton Financial Group LLC bought a new stake in Analog Devices during the 3rd quarter worth approximately $31,000. Valley Wealth Managers Inc. bought a new stake in Analog Devices during the 3rd quarter worth approximately $38,000. Finally, Sound Income Strategies LLC raised its holdings in Analog Devices by 141.8% during the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

ADI opened at $311.29 on Wednesday. The business’s 50-day simple moving average is $286.81 and its 200 day simple moving average is $255.58. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $321.23. 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 firm has a market capitalization of $152.11 billion, a PE ratio of 68.27, a PEG ratio of 1.72 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the company earned $1.67 earnings per share. The business’s revenue was up 25.9% compared to the same quarter last year. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.3%. Analog Devices’s dividend payout ratio (DPR) is currently 86.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Oppenheimer increased their price objective on shares of Analog Devices from $265.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Robert W. Baird increased their target price on Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, November 26th. Truist Financial lifted their price target on Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a research note on Friday, December 19th. Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, Benchmark reiterated a “buy” rating and set a $285.00 price objective on shares of Analog Devices in a report on Wednesday, November 26th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.04.

Insider Buying and Selling

In other news, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the transaction, the chief accounting officer directly owned 18,913 shares in the company, valued at $5,258,381.39. The trade was a 30.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $279.39, for a total transaction of $873,093.75. Following the completion of the sale, the director owned 136,321 shares of the company’s stock, valued at $38,086,724.19. This trade represents a 2.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 50,419 shares of company stock worth $14,328,855. Corporate insiders own 0.36% of the company’s stock.

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.