Alliancebernstein L.P. Acquires 107,894 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Alliancebernstein L.P. raised its holdings in Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,748,262 shares of the semiconductor company’s stock after buying an additional 107,894 shares during the period. Alliancebernstein L.P. owned about 0.33% of Analog Devices worth $307,292,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Soros Fund Management LLC raised its stake in Analog Devices by 41.0% in the third quarter. Soros Fund Management LLC now owns 250,903 shares of the semiconductor company’s stock valued at $42,021,000 after buying an additional 72,999 shares during the period. Chartwell Investment Partners LLC bought a new position in shares of Analog Devices during the third quarter worth approximately $1,226,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Analog Devices during the third quarter worth approximately $38,489,000. Comerica Bank increased its stake in shares of Analog Devices by 7.5% during the third quarter. Comerica Bank now owns 71,697 shares of the semiconductor company’s stock worth $12,792,000 after purchasing an additional 4,976 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Analog Devices by 251.8% during the third quarter. Thrivent Financial for Lutherans now owns 114,285 shares of the semiconductor company’s stock worth $19,141,000 after purchasing an additional 81,796 shares during the period. Hedge funds and other institutional investors own 86.15% of the company’s stock.

In other Analog Devices news, CFO Prashanth Mahendra-Rajah sold 3,901 shares of Analog Devices stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $163.14, for a total transaction of $636,409.14. Following the completion of the transaction, the chief financial officer now owns 16,108 shares in the company, valued at approximately $2,627,859.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tunc Doluca sold 4,700 shares of Analog Devices stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $166.50, for a total value of $782,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,901 shares of company stock valued at $2,951,831 in the last quarter. Company insiders own 0.91% of the company’s stock.

A number of brokerages have recently weighed in on ADI. The Goldman Sachs Group lowered their target price on Analog Devices from $207.00 to $183.00 and set a “buy” rating on the stock in a research note on Tuesday, April 5th. UBS Group lowered their target price on Analog Devices to $210.00 and set a “hold” rating on the stock in a research note on Thursday, May 19th. Truist Financial increased their price target on Analog Devices from $194.00 to $203.00 and gave the stock a “buy” rating in a research report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Analog Devices from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Thursday, February 17th. Finally, Sanford C. Bernstein raised their target price on Analog Devices to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 19th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices has an average rating of “Buy” and a consensus target price of $199.52.

ADI stock opened at $167.55 on Friday. The stock has a 50-day moving average price of $160.10 and a 200-day moving average price of $165.81. Analog Devices, Inc. has a 1-year low of $143.81 and a 1-year high of $191.95. The company has a current ratio of 1.99, a quick ratio of 1.53 and a debt-to-equity ratio of 0.17. The firm has a market cap of $87.09 billion, a PE ratio of 47.46, a price-to-earnings-growth ratio of 1.48 and a beta of 1.07.

Analog Devices (NASDAQ:ADI – Get Rating) last issued its earnings results on Wednesday, May 18th. The semiconductor company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.11 by $0.29. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.84 billion. Analog Devices had a return on equity of 12.11% and a net margin of 16.84%. The firm’s revenue for the quarter was up 78.9% compared to the same quarter last year. During the same period last year, the business posted $1.54 EPS. On average, analysts forecast that Analog Devices, Inc. will post 9.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Tuesday, May 31st will be paid a $0.76 dividend. The ex-dividend date is Friday, May 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.81%. Analog Devices’s dividend payout ratio is presently 86.12%.

Analog Devices Profile (Get Rating)

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 include performance, integration, and software design simulation tools for accurate power supply designs.

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