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US Asset Management LLC purchases shares of 5894 Analog Devices, Inc. (NASDAQ:ADI)

US Asset Management LLC assumed a new position at Analog Devices, Inc. in the fourth quarter, according to its latest filing with the Securities and Exchange Commission (SEC). (NASDAQ:ADI – Free Report). The fund purchased 5,894 shares of a semiconductor company worth approximately $1,170,000. Analog Devices represents approximately 1.2% of US Asset Management LLC’s investment portfolio, making it the 17th largest company.

Other institutional investors and hedge funds have also recently increased or decreased their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares in the last quarter. Invesco Ltd. increased its exposure to Analog Devices shares by 7.5% in the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after acquiring an additional 701,367 shares in the last quarter. In the fourth quarter, Baillie Gifford & Co. increased its exposure to Analog Devices shares by 11.7%. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock valued at $753,379,000 after acquiring an additional 397,753 shares in the last quarter. Producers’ Life Insurance Company increased its exposure to Analog Devices shares by 7.8% in the third quarter. Manufacturers Life Insurance Company now owns 3,119,239 shares of the semiconductor company’s stock valued at $546,148,000 after acquiring an additional 225,048 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Analog Devices by 14.2% during the fourth quarter. Van ECK Associates Corp now owns 2,890,824 shares of the semiconductor company’s stock worth $574,002,000 after acquiring an additional 358,697 shares in the last quarter. Currently, 86.81% of the shares are in the hands of institutional investors.

Confidential transactions in analog devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction amount of $1,970,600.00. Following the transaction, the CEO now directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In other Analog Devices news, CEO James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Additionally, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06 for a total value of $1,970,600.00. Following the sale, the CEO now owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The announcement of this sale can be found here. Over the last three months, insiders sold a total of 24,707 shares of company stock worth $4,874,613. Corporate insiders own 0.31% of the company’s shares.

Analyst Upgrades and Downgrades

Several research analysts have published reports on the company. Wolfe Research raised Analog Devices from an “equal perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a report on Thursday, January 18th. Morgan Stanley maintained an “overweight” rating and set a $212.00 price target on shares of Analog Devices in a research report on Thursday, April 11th. KeyCorp raised their target price on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Truist Financial lowered their target price on shares of Analog Devices from $226.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Cantor Fitzgerald affirmed a “neutral” rating and issued a $205.00 price target for shares of Analog Devices in a research note on Monday, March 4th. Seven analysts rated the company’s shares with a hold rating, and fourteen analysts gave a buy rating to the company’s stock. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average price target of $208.17.

Get our latest stock analysis on ADI

Analog equipment inventory performance

On Friday, ADI shares rose $1.69 to $206.48. 1,128,245 shares of the company were traded, with average volume of 3,301,675. Analog Devices, Inc. it has a 52-week low of $154.99 and a 52-week high of $207.76. The stock’s 50-day simple moving average is $195.45 and its 200-day simple moving average is $189.11. The company has a market capitalization of $102.40 billion, a price-to-earnings ratio of 36.94, a price-to-earnings growth ratio of 5.01 and a beta of 1.14. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported EPS of $1.73 for the quarter, which was $0.02 ahead of analysts’ consensus estimates of $1.71. The company’s revenue for the quarter was $2.51 billion, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices revenue decreased 22.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.75 per share. On average, equity research analysts expect Analog Devices, Inc. it will record 5.86 EPS for the current year.

Analog devices increase the dividend

Recently, the company also declared a quarterly dividend, which was paid on Friday, March 15. Shareholders of record received a dividend of $0.92 on Tuesday, March 5th. This represents an increase from Analog Devices’ previous quarterly dividend of $0.86. This represents an annual dividend of $3.68 and a yield of 1.78%. The ex-dividend date of this dividend was Monday, March 4. Analog Devices’ payout ratio is 65.83%.

Analog device profile

(free report)

Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

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Want to see what other hedge funds hold ADI? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Analog Devices, Inc. (NASDAQ:ADI – Free Report).

Institutional ownership by quarter for Analog (NASDAQ:ADI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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