Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its holdings in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 139,201 shares of the semiconductor company’s stock after selling 4,471 shares during the quarter. Westpac Banking Corp’s holdings in Analog Devices were worth $24,467,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in ADI. Panagora Asset Management Inc. raised its stake in shares of Analog Devices by 72.6% during the 3rd quarter. Panagora Asset Management Inc. now owns 31,321 shares of the semiconductor company’s stock worth $5,246,000 after buying an additional 13,171 shares during the last quarter. Soros Fund Management LLC raised its stake in shares of Analog Devices by 41.0% during the 3rd quarter. Soros Fund Management LLC now owns 250,903 shares of the semiconductor company’s stock worth $42,021,000 after buying an additional 72,999 shares during the last quarter. Chartwell Investment Partners LLC acquired a new position in shares of Analog Devices during the 3rd quarter worth $1,226,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Analog Devices during the 3rd quarter worth $38,489,000. Finally, Comerica Bank raised its stake in shares of Analog Devices by 7.5% during the 3rd quarter. Comerica Bank now owns 71,697 shares of the semiconductor company’s stock worth $12,792,000 after buying an additional 4,976 shares during the last quarter. 86.79% of the stock is owned by institutional investors.

In other Analog Devices news, Director Tunc Doluca sold 4,700 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $166.50, for a total value of $782,550.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 18,700 shares of company stock worth $3,086,692 over the last three months. 0.91% of the stock is currently owned by corporate insiders.

Several research analysts have recently issued reports on ADI shares. Truist Financial cut their price target on Analog Devices from $208.00 to $194.00 and set a “buy” rating for the company in a research note on Friday, April 8th. Morgan Stanley lifted their price objective on Analog Devices from $194.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on Analog Devices from $200.00 to $185.00 and set a “hold” rating for the company in a research report on Thursday, February 17th. StockNews.com assumed coverage on Analog Devices in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $210.00 price objective on shares of Analog Devices in a research report on Thursday, April 7th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of “Buy” and an average price target of $199.10.

Analog Devices stock opened at $154.38 on Friday. The stock’s 50 day moving average price is $158.74 and its 200 day moving average price is $168.29. The firm has a market capitalization of $80.79 billion, a PE ratio of 48.55, a price-to-earnings-growth ratio of 1.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.65 and a current ratio of 2.09. Analog Devices, Inc. has a one year low of $143.81 and a one year high of $191.95.

Analog Devices (NASDAQ:ADIGet Rating) last released its quarterly earnings results on Wednesday, February 16th. The semiconductor company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.79 by $0.15. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.61 billion. Analog Devices had a return on equity of 12.35% and a net margin of 15.18%. Analog Devices’s revenue for the quarter was up 72.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 EPS. On average, analysts forecast that Analog Devices, Inc. will post 8.43 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 8th. Investors of record on Friday, February 25th were given a dividend of $0.76 per share. The ex-dividend date was Thursday, February 24th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a yield of 1.97%. Analog Devices’s payout ratio is 95.60%.

Analog Devices Company 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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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