Johnson Investment Counsel Inc. Acquires 2,219 Shares of Analog Devices, Inc. $ADI

Johnson Investment Counsel Inc. raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.5% during the third quarter, Holdings Channel reports. The institutional investor owned 429,780 shares of the semiconductor company’s stock after buying an additional 2,219 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Analog Devices were worth $105,597,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ADI. Norges Bank acquired a new position in Analog Devices during the 2nd quarter valued at about $1,803,377,000. Marshall Wace LLP lifted its holdings in shares of Analog Devices by 948.2% in the second quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock valued at $258,487,000 after purchasing an additional 982,385 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Analog Devices by 47.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,745,985 shares of the semiconductor company’s stock valued at $653,599,000 after buying an additional 882,909 shares during the last quarter. Vanguard Group Inc. grew its holdings in Analog Devices by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after buying an additional 761,861 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Analog Devices by 684.6% in the 3rd quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock valued at $211,871,000 after buying an additional 752,411 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on ADI. Barclays set a $315.00 price objective on shares of Analog Devices in a report on Thursday, January 15th. Morgan Stanley restated an “overweight” rating and set a $314.00 price target on shares of Analog Devices in a report on Friday, January 16th. Citigroup increased their price objective on shares of Analog Devices from $290.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Piper Sandler set a $290.00 target price on shares of Analog Devices in a research report on Tuesday, November 25th. Finally, Zacks Research raised Analog Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Three investment 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, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $314.22.

Insider Buying and Selling

In related news, SVP Katsufumi Nakamura sold 500 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $301.46, for a total value of $150,730.00. Following the sale, the senior vice president directly owned 12,710 shares in the company, valued at approximately $3,831,556.60. The trade was a 3.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the transaction, the chief accounting officer owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This represents a 30.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,544 shares of company stock worth $15,320,417 in the last quarter. 0.36% of the stock is currently owned by company insiders.

Analog Devices Stock Up 0.8%

ADI opened at $322.96 on Tuesday. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $327.74. The company’s 50-day moving average price is $291.57 and its two-hundred day moving average price is $258.09. The stock has a market cap of $157.81 billion, a price-to-earnings ratio of 70.82, a PEG ratio of 1.74 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 posted its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the firm posted $1.67 EPS. Analog Devices’s revenue was up 25.9% on a year-over-year basis. As a group, equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were paid a dividend of $0.99 per share. The ex-dividend date was Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.2%. Analog Devices’s dividend payout ratio is presently 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.