Toroso Investments LLC Increases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Posted by Defense World Staff on Sep 15th, 2023

Analog Devices logo Toroso Investments LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,868 shares of the semiconductor company’s stock after acquiring an additional 1,287 shares during the period. Toroso Investments LLC’s holdings in Analog Devices were worth $3,327,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analog Devices Stock Up 2.0 %

Analog Devices stock opened at $179.67 on Friday. The business has a fifty day moving average of $185.90 and a two-hundred day moving average of $185.76. The company has a quick ratio of 1.10, a current ratio of 1.71 and a debt-to-equity ratio of 0.18. The firm has a market cap of $89.53 billion, a P/E ratio of 24.41, a P/E/G ratio of 1.82 and a beta of 1.17. Analog Devices, Inc. has a twelve month low of $133.48 and a twelve month high of $200.10.

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

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, September 5th were given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, September 1st. Analog Devices’s payout ratio is 46.74%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $197.64, for a total value of $1,976,400.00. Following the transaction, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at approximately $13,975,717.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 30,000 shares of company stock valued at $5,661,500 in the last ninety days. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ADI. UBS Group boosted their price objective on Analog Devices from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. KeyCorp reduced their price objective on Analog Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, May 25th. Sanford C. Bernstein reduced their price objective on Analog Devices from $220.00 to $210.00 in a research note on Thursday, May 25th. Bank of America boosted their price objective on Analog Devices from $205.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 18th. Finally, Susquehanna boosted their price objective on Analog Devices from $215.00 to $225.00 and gave the stock a “positive” rating in a research note on Thursday, August 24th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.21.

Read Our Latest Stock Analysis on Analog Devices

Analog Devices Company Profile

(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.