Analog Devices, Inc. (NASDAQ:ADI) Holdings Decreased by Mission Creek Capital Partners Inc.

Posted by Defense World Staff on Sep 10th, 2023

Analog Devices logo Mission Creek Capital Partners Inc. reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 36.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,052 shares of the semiconductor company’s stock after selling 1,166 shares during the quarter. Mission Creek Capital Partners Inc.’s holdings in Analog Devices were worth $405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Markel Corp increased its stake in Analog Devices by 1.4% in the 1st quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company’s stock worth $178,034,000 after purchasing an additional 15,150 shares in the last quarter. Fairfield Bush & CO. purchased a new position in Analog Devices in the 1st quarter worth about $82,000. United Bank increased its stake in Analog Devices by 24.7% in the 1st quarter. United Bank now owns 6,647 shares of the semiconductor company’s stock worth $1,098,000 after purchasing an additional 1,315 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Analog Devices by 34.7% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,599 shares of the semiconductor company’s stock worth $264,000 after purchasing an additional 412 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Analog Devices by 14.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 116,085 shares of the semiconductor company’s stock worth $19,175,000 after purchasing an additional 14,718 shares in the last quarter. 85.55% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 30,591 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $192.75, for a total transaction of $5,896,415.25. Following the sale, the chief financial officer now directly owns 27,458 shares in the company, valued at $5,292,529.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $185.91, for a total value of $1,859,100.00. Following the sale, the chief executive officer now directly owns 70,713 shares in the company, valued at $13,146,253.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 30,591 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $192.75, for a total value of $5,896,415.25. Following the completion of the sale, the chief financial officer now owns 27,458 shares in the company, valued at $5,292,529.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,051 shares of company stock worth $13,186,465. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ADI shares. Truist Financial dropped their price target on Analog Devices from $251.00 to $213.00 in a research note on Thursday, May 25th. Stifel Nicolaus lifted their target price on Analog Devices from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. BMO Capital Markets lowered their target price on Analog Devices from $215.00 to $200.00 in a research note on Thursday, May 25th. Sanford C. Bernstein reduced their price target on Analog Devices from $220.00 to $210.00 in a report on Thursday, May 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Analog Devices from $200.00 to $195.00 in a report on Thursday, May 25th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $204.21.

Get Our Latest Analysis on ADI

Analog Devices Stock Down 0.6 %

Shares of ADI stock opened at $177.47 on Friday. Analog Devices, Inc. has a 12 month low of $133.48 and a 12 month high of $200.10. The firm has a market cap of $88.44 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.82 and a beta of 1.17. The stock has a 50 day moving average of $187.03 and a 200-day moving average of $185.97. The company has a quick ratio of 1.10, a current ratio of 1.71 and a debt-to-equity ratio of 0.18.

Analog Devices (NASDAQ:ADI – Get Free Report) last issued its quarterly earnings results on Wednesday, August 23rd. The semiconductor company reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.03). The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.10 billion. Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.52 earnings per share. On average, equities analysts predict that Analog Devices, Inc. will post 10.15 EPS for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, September 1st. Analog Devices’s dividend payout ratio is presently 46.74%.

About Analog Devices

(Free Report)

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.