Several institutional investors made changes to their holdings in Analog Devices (NASDAQ: ADI). Point72 Italy invested around $6.37 million, while Grayhawk Investment Strategies acquired about $850,000 in shares. Capital International increased its holdings by 5.8%, owning 4.51 million shares now worth $895.7 million. Bradley Foster & Sargent significantly raised their stake by 1,055.6%, owning 228,275 shares valued at $45.3 million. Profund Advisors also boosted their position by 16.2%. Overall, institutional investors own 86.81% of the company’s stock.
Analog Devices Share Performance
On Thursday, shares opened at $227.73, with a market cap of $113 billion and a P/E ratio of 53.21. The stock’s 50-day moving average is $222.68, while its 200-day average is $218.04. Over the past year, shares hit a low of $154.99 and a high of $244.14.
On August 21, Analog Devices reported quarterly earnings of $1.58 per share, beating the expected $1.50. The company’s revenue for the quarter was $2.31 billion, down 24.8% from last year.
Dividend Information
The company declared a quarterly dividend of $0.92, paid on September 17, which equals an annualized dividend of $3.68, giving a yield of 1.62%. The dividend payout ratio is 85.98%.
Insider Trading
Director Edward H. Frank sold 995 shares for about $233,138 on August 29. EVP Gregory M. Bryant sold 30,000 shares for $6.87 million on October 1. In the last 90 days, insiders sold 91,495 shares, accounting for 0.31% of total shares.
Analyst Ratings
Recent analyst comments include a “hold” rating by Needham, while Oppenheimer set a price target of $245. Bank of America adjusted its target to $255. Overall, the stock has an average rating of “Moderate Buy” with a target price of $249.80 based on 16 buy ratings.
About Analog Devices
Analog Devices designs and manufactures integrated circuits and subsystems used in various markets, including automotive and communications.
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