Corient Capital Partners LLC Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Corient Capital Partners LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 23.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,229 shares of the semiconductor company’s stock after buying an additional 8,069 shares during the quarter. Corient Capital Partners LLC’s holdings in Analog Devices were worth $7,271,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new stake in Analog Devices in the first quarter valued at about $43,292,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Analog Devices by 5.0% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 129,398 shares of the semiconductor company’s stock valued at $22,277,000 after purchasing an additional 6,119 shares during the period. AGF Investments Inc. lifted its position in Analog Devices by 47.0% in the second quarter. AGF Investments Inc. now owns 193,531 shares of the semiconductor company’s stock valued at $33,318,000 after purchasing an additional 61,914 shares during the period. Creative Planning lifted its position in shares of Analog Devices by 6.9% during the 2nd quarter. Creative Planning now owns 28,724 shares of the semiconductor company’s stock valued at $4,945,000 after acquiring an additional 1,847 shares during the period. Finally, Krane Funds Advisors LLC lifted its position in shares of Analog Devices by 28.2% during the 2nd quarter. Krane Funds Advisors LLC now owns 64,031 shares of the semiconductor company’s stock valued at $11,024,000 after acquiring an additional 14,104 shares during the period. Hedge funds and other institutional investors own 99.18% of the company’s stock.

In related news, Director Bruce R. Evans acquired 8,001 shares of the stock in a transaction on Wednesday, October 6th. The stock was purchased at an average price of $164.98 per share, for a total transaction of $1,320,004.98. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 1st. The shares were sold at an average price of $168.09, for a total transaction of $1,680,900.00. The disclosure for this sale can be found here. Company insiders own 0.91% of the company’s stock.

A number of research analysts have recently weighed in on the stock. Oppenheimer raised their price objective on shares of Analog Devices from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, August 13th. Zacks Investment Research lowered shares of Analog Devices from a “buy” rating to a “hold” rating and set a $181.00 target price on the stock. in a research note on Thursday, August 5th. Wells Fargo & Company began coverage on shares of Analog Devices in a research report on Monday, July 26th. They issued an “equal weight” rating and a $170.00 target price for the company. Morgan Stanley started coverage on shares of Analog Devices in a research note on Monday, September 13th. They set an “equal weight” rating and a $179.00 target price for the company. Finally, UBS Group assumed coverage on shares of Analog Devices in a research note on Wednesday, October 13th. They issued a “buy” rating and a $210.00 price objective on the stock. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, Analog Devices has a consensus rating of “Buy” and an average price target of $183.70.

ADI stock traded down $7.40 on Wednesday, hitting $172.48. 226,941 shares of the company’s stock traded hands, compared to its average volume of 3,575,121. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. The stock has a market cap of $63.51 billion, a price-to-earnings ratio of 37.31, a P/E/G ratio of 2.16 and a beta of 1.22. Analog Devices, Inc. has a 1-year low of $115.64 and a 1-year high of $182.39. The stock has a fifty day moving average of $168.44 and a 200-day moving average of $164.36.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, August 17th. The semiconductor company reported $1.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.10. Analog Devices had a net margin of 26.15% and a return on equity of 18.86%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business posted $1.36 EPS. Analog Devices’s quarterly revenue was up 20.8% on a year-over-year basis. On average, equities research analysts anticipate that Analog Devices, Inc. will post 6.41 earnings per share for the current fiscal year.

Analog Devices declared that its board has authorized a stock repurchase program on Wednesday, August 25th that permits the company to buyback $8.50 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 13.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Investors of record on Friday, August 27th were paid a $0.69 dividend. The ex-dividend date of this dividend was Thursday, August 26th. This represents a $2.76 dividend on an annualized basis and a yield of 1.60%. Analog Devices’s payout ratio is presently 56.21%.

Analog Devices Profile

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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

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