Vestmark Advisory Solutions Inc. Has $2.24 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Posted by Defense World Staff on Apr 1st, 2023

Analog Devices logo Vestmark Advisory Solutions Inc. trimmed its position in Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,634 shares of the semiconductor company’s stock after selling 170 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Analog Devices were worth $2,237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ADI. Nordea Investment Management AB grew its position in Analog Devices by 103.0% during the third quarter. Nordea Investment Management AB now owns 113,202 shares of the semiconductor company’s stock worth $16,008,000 after buying an additional 57,450 shares in the last quarter. Summit X LLC bought a new position in shares of Analog Devices during the 3rd quarter worth approximately $221,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Analog Devices by 370.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,943,607 shares of the semiconductor company’s stock worth $722,212,000 after purchasing an additional 3,893,057 shares during the period. Baker Avenue Asset Management LP grew its stake in Analog Devices by 4.6% in the 3rd quarter. Baker Avenue Asset Management LP now owns 2,140 shares of the semiconductor company’s stock valued at $298,000 after buying an additional 94 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of Analog Devices by 130.7% during the 2nd quarter. Kestra Private Wealth Services LLC now owns 32,603 shares of the semiconductor company’s stock valued at $4,763,000 after purchasing an additional 18,473 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent research reports. Truist Financial boosted their price target on shares of Analog Devices from $215.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Sanford C. Bernstein lifted their target price on shares of Analog Devices from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. Cowen boosted their target price on shares of Analog Devices from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, February 16th. KeyCorp boosted their price objective on shares of Analog Devices from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Analog Devices from $170.00 to $200.00 in a research report on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $213.68.

Analog Devices Stock Up 1.5 %

NASDAQ:ADI opened at $197.22 on Friday. The firm has a market capitalization of $99.76 billion, a P/E ratio of 29.75, a PEG ratio of 1.41 and a beta of 1.14. Analog Devices, Inc. has a 1-year low of $133.48 and a 1-year high of $197.56. The company’s fifty day moving average price is $182.99 and its 200-day moving average price is $165.61. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.50.

Analog Devices (NASDAQ:ADI – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The semiconductor company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.60 by $0.15. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.15 billion. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The firm’s revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the business earned $1.94 earnings per share. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 10.6 EPS for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 8th. Shareholders of record on Monday, February 27th were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.74%. This is an increase from Analog Devices’s previous quarterly dividend of $0.76. The ex-dividend date was Friday, February 24th. Analog Devices’s dividend payout ratio (DPR) is presently 51.89%.

Insider Transactions at Analog Devices

In other news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the firm’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $187.01, for a total value of $4,909,012.50. Following the transaction, the chief financial officer now directly owns 23,871 shares of the company’s stock, valued at $4,464,115.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the firm’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the completion of the sale, the chief financial officer now directly owns 23,871 shares in the company, valued at $4,464,115.71. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Champy sold 1,495 shares of Analog Devices stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $185.44, for a total transaction of $277,232.80. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,181,438.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,445 shares of company stock valued at $7,606,735. Corporate insiders own 0.46% of the company’s stock.

Analog Devices Company Profile

(Get Rating)

Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.