Wahed Invest LLC Has $2.77 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Wahed Invest LLC boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 12.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,036 shares of the semiconductor company’s stock after buying an additional 1,350 shares during the period. Wahed Invest LLC’s holdings in Analog Devices were worth $2,770,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its holdings in shares of Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after purchasing an additional 106,664 shares during the last quarter. FMR LLC raised its holdings in shares of Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after purchasing an additional 665,149 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after purchasing an additional 700,862 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after purchasing an additional 767,534 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Analog Devices by 5.3% in the second quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock valued at $963,788,000 after purchasing an additional 211,202 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Truist Financial reduced their price target on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. TD Cowen reduced their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Morgan Stanley reduced their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the sale, the chief executive officer now owns 45,326 shares in the company, valued at $10,376,481.18. The trade was a 18.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,000 shares of company stock valued at $22,596,300. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Trading Down 1.7 %

Shares of ADI opened at $214.55 on Friday. The firm’s 50 day simple moving average is $223.45 and its 200 day simple moving average is $226.02. The company has a market capitalization of $106.48 billion, a P/E ratio of 65.21, a P/E/G ratio of 2.52 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a 1-year low of $180.17 and a 1-year high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same period last year, the firm posted $2.01 earnings per share. Sell-side analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

About Analog Devices

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.