King Luther Capital Management Corp Buys 187 Shares of Analog Devices, Inc. (NASDAQ:ADI)

King Luther Capital Management Corp raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,374 shares of the semiconductor company’s stock after purchasing an additional 187 shares during the quarter. King Luther Capital Management Corp’s holdings in Analog Devices were worth $1,237,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Van ECK Associates Corp raised its stake 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 in the last quarter. American Century Companies Inc. increased its holdings in Analog Devices by 21.4% in the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after buying an additional 767,534 shares during the period. Legal & General Group Plc raised its stake in shares of Analog Devices by 5.3% in the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock valued at $963,788,000 after buying an additional 211,202 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Analog Devices by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock worth $720,933,000 after acquiring an additional 171,893 shares during the period. Finally, Swedbank AB boosted its position in shares of Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after acquiring an additional 180,870 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

ADI stock opened at $214.59 on Friday. The company has a 50 day moving average price of $224.87 and a 200 day moving average price of $225.56. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The stock has a market capitalization of $106.54 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.49 earnings per share. Analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADI. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Wells Fargo & Company assumed coverage on Analog Devices in a research report on Friday. They set an “equal weight” rating and a $220.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.05.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the transaction, the chief executive officer now directly owns 45,326 shares in the company, valued at $10,376,481.18. This trade represents a 18.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,995 shares of company stock worth $25,116,338 over the last three months. 0.31% of the stock is currently owned by company insiders.

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.