On September 3, 2023, it was reported that Banco de Sabadell S.A had reduced its holdings in Analog Devices, Inc. (NASDAQ: ADI) by 14.3% during the first quarter. According to the Form 13F filing with the Securities and Exchange Commission (SEC), Banco de Sabadell S.A sold 1,852 shares of the semiconductor company’s stock, bringing their total holdings to 11,124 shares. Analog Devices accounted for approximately 1.8% of Banco de Sabadell S.A’s investment portfolio and was ranked as their 21st biggest position. The total worth of Banco de Sabadell S.A’s holdings in Analog Devices stood at $2,196,000 at the end of the most recent quarter.
Analog Devices recently released its earnings results on August 23rd. The company reported earnings per share (EPS) of $2.49 for the quarter, slightly below the consensus estimate of $2.52 by ($0.03). The net margin stood at 29.23%, while the return on equity was recorded at 15.20%. Revenue for the quarter was $3.08 billion, slightly lower than analyst estimates of $3.10 billion. In comparison to the same period last year when Analog Devices earned $2.52 per share in earnings, its revenue posted a decline of 1.1% on a year-over-year basis.
Several research reports have been published regarding ADI’s prospects. Sanford C. Bernstein reduced their price target from $220 to $210 on May 25th.Within this time frame, Wells Fargo & Company also lowered their price objective on Analog Devices’ shares from $185 to $175 and maintained an “equal weight” rating for the company in their report published on August 24th.BMO Capital Markets similarly lowered their price objective on May25th from $215.00 to $200.00. On August 24th, Susquehanna increased their price objective from $215.00 to $225.00 and assigned a “positive” rating for the stock. Finally, Raymond James reduced their price objective from $225.00 to $200.00 and provided an “outperform” rating for the company in their report on August 24th.
Overall, out of the twenty-four research analysts covering ADI, eight have rated the stock as hold while sixteen recommend buying it. According to Bloomberg.com, there is a consensus rating of “Moderate Buy” for Analog Devices’ stock with a consensus target price of $204.21.
These recent developments regarding Banco de Sabadell S.A’s reduced holdings in Analog Devices and its financial performance bring valuable insights for investors looking to make informed decisions about their investment portfolio.
Analog Devices, Inc. Sees Shifts in Investor Base and Analyst Attention as Stock Performance is Evaluated
Analog Devices, Inc. (ADI), a leading semiconductor company, has recently experienced shifts in its investor base and garnered attention from analysts. Several major investors have made changes to their holdings of the company’s stock. Silicon Valley Capital Partners acquired a new stake in ADI during the first quarter, valued at approximately $27,000. Similarly, Magellan Asset Management Ltd and Worth Asset Management LLC also purchased new stakes in ADI during the first quarter, valued at $30,000 and $33,000 respectively. Grey Fox Wealth Advisors LLC followed suit, acquiring a new stake in the fourth quarter worth approximately $35,000. Additionally, Princeton Global Asset Management LLC raised its holdings in ADI by 65.8% during the first quarter.
It is worth noting that hedge funds and other institutional investors currently own a significant portion of ADI’s stock, accounting for 85.55% of total shares.
On September 3rd, shares of ADI on NASDAQ were trading at $182.36 per share with a trading volume of 969,796 shares. This trading volume was lower than the average volume of 3,418,635 shares usually traded by the company.
Looking at some key financials and metrics, ADI has a debt-to-equity ratio of 0.18 and quick and current ratios of 1.10 and 1.71 respectively. The fluctuating moving averages showcase an average over fifty days at $188.11 and an average over two hundred days at $186.34.
ADI exhibits a wide variation between its twelve month low of $133.48 and twelve month high of $200.10. The company holds a market capitalization value amounting to $90.87 billion with a price-to-earnings ratio standing at 24.70 times earnings per share.
A number of research reports have been published regarding ADI’s prospects and performance. Sanford C. Bernstein lowered their price target on ADI from $220.00 to $210.00 earlier this year. Wells Fargo & Company and BMO Capital Markets also adjusted their price objectives, reducing them to $175.00 and $200.00 respectively, while Raymond James set an “outperform” rating for ADI with a lowered price objective of $200.00.
Overall, eight research analysts have assigned a hold rating to the stock, while sixteen analysts rate it as a buy.
In recent news concerning ADI’s management team, CEO Vincent Roche has sold 25,000 shares of the company’s stock in June at an average price of approximately $181.03 per share, amassing a total value of $4,525,750.00. Following this transaction, Roche currently holds 70,713 shares valued at around $12,801,174.39. Furthermore, Director Kenton J. Sicchitano sold 8,460 shares in June at an average price of $192.50 per share for a total transaction value of $1,628,550.
In the past three months alone, insiders have sold 84,051 shares of the company’s stock valued at approximately $15,886,215.
It is important to consider these various market shifts and insider activities when analyzing ADI’s current position and making investment decisions moving forward.
Investors are advised to monitor the stock’s performance closely and keep up with updated research reports as they become available in order to make informed decisions regarding their investment portfolios.
ADI recently declared a quarterly dividend that will be paid on September 14th to shareholders of record as of September 5th. The dividend stands at $0.86 per share representing an annualized dividend payout ratio of 46.74% and an attractive yield of 1.89%.
Ultimately though its investors will have the final say on whether ADI is a sound investment option, it is evident that the company has captured the attention of both investors and analysts alike. With its growing investor base and mixed but generally positive research reports accompanying its recent management activities, ADI continues to be a stock worth observing in the semiconductor industry.