148,305 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 148,305 shares of the semiconductor company’s stock, valued at approximately $33,852,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Analog Devices by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after buying an additional 2,160,668 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Analog Devices by 8.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after purchasing an additional 1,197,215 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Norges Bank bought a new position in Analog Devices in the fourth quarter worth approximately $1,225,227,000. Finally, Capital International Investors increased its holdings in Analog Devices by 14.3% during the 1st quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after purchasing an additional 644,945 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

ADI stock traded down $2.33 during trading on Friday, hitting $211.31. 2,482,111 shares of the company traded hands, compared to its average volume of 3,369,276. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The stock’s 50-day simple moving average is $229.32 and its 200 day simple moving average is $209.36. The company has a market cap of $104.86 billion, a PE ratio of 49.43, a P/E/G ratio of 3.69 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.14. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business’s quarterly revenue was down 33.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.83 EPS. On average, equities analysts expect that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Activity

In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now owns 69,241 shares in the company, valued at $16,198,239.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The disclosure for this sale can be found here. Insiders sold 46,642 shares of company stock worth $10,791,543 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ADI. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, July 16th. Stifel Nicolaus raised their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Sanford C. Bernstein upped their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Finally, The Goldman Sachs Group increased their target price on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. 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 consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.