Several institutional investors have recently adjusted their holdings in Analog Devices. Notably, Point72 Italy S.r.l. invested about $6.37 million, and Grayhawk Investment Strategies acquired approximately $850,000 in shares. Capital International raised its stake by 5.8%, owning now 4.51 million shares valued at around $896 million. Bradley Foster & Sargent boosted their position by over 1,055%, now holding 228,275 shares worth $45.3 million. Profund Advisors increased theirs by 16.2% to 72,344 shares valued at about $14.4 million. Overall, institutional investors own 86.81% of the company’s stock.
Analog Devices Shares Rise 1.8%
On Thursday, shares of NASDAQ:ADI opened at $227.73. The company has a market cap of $113 billion and a P/E ratio of 53.21. Its 50-day moving average is $222.68, while the 200-day is $218.04. The stock has climbed from a 1-year low of $154.99 to a high of $244.14.
For the latest quarter, Analog Devices reported $1.58 earnings per share, exceeding estimates of $1.50. Revenue decreased by 24.8% year-over-year to $2.31 billion.
Dividend Announcement
The company recently declared a quarterly dividend of $0.92, payable on September 17, with a yield of 1.62% and a payout ratio of 85.98%.
Insider Transactions
Director Edward H. Frank sold 995 shares on August 29 for approximately $233,138, leaving him with 3,753 shares valued at around $879,365. Similarly, EVP Gregory M. Bryant sold 30,000 shares on October 1 for about $6.87 million, retaining 79,093 shares worth about $18.11 million. Over the last 90 days, insiders sold 91,495 shares valued at $20.79 million.
Analyst Ratings
Recent analyst reports include a “hold” rating from Needham, while Oppenheimer set a price target of $245. Bank of America adjusted their target from $260 to $255. Morgan Stanley increased their target from $250 to $257, and JPMorgan raised theirs from $260 to $280. The stock overall has a “Moderate Buy” rating with an average target of $249.80.
About Analog Devices
Analog Devices, Inc. designs and manufactures integrated circuits and subsystems for various markets, including automotive and consumer electronics. They specialize in data converters and power management products.
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Want more on hedge fund holdings for ADI? Check HoldingsChannel.com for the latest filings.
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