Analog Devices, Inc. (NASDAQ:ADI) is Alkeon Capital Management LLC’s 10th Largest Position

Alkeon Capital Management LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,315,237 shares of the semiconductor company’s stock after selling 1,685 shares during the quarter. Analog Devices comprises approximately 0.9% of Alkeon Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Alkeon Capital Management LLC’s holdings in Analog Devices were worth $532,898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ADI. Northwest & Ethical Investments L.P. lifted its holdings in Analog Devices by 15.2% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 51,227 shares of the semiconductor company’s stock valued at $11,791,000 after purchasing an additional 6,751 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Analog Devices by 13.7% in the third quarter. Public Sector Pension Investment Board now owns 21,612 shares of the semiconductor company’s stock valued at $4,974,000 after buying an additional 2,600 shares during the last quarter. Fiduciary Trust Co lifted its stake in shares of Analog Devices by 15.1% during the third quarter. Fiduciary Trust Co now owns 62,259 shares of the semiconductor company’s stock valued at $14,330,000 after buying an additional 8,173 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Analog Devices by 10.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 113,554 shares of the semiconductor company’s stock worth $26,137,000 after acquiring an additional 10,883 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after acquiring an additional 853,931 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 0.9 %

NASDAQ ADI opened at $217.17 on Friday. The stock has a market cap of $107.82 billion, a P/E ratio of 66.01, a PEG ratio of 3.15 and a beta of 1.08. The company’s fifty day simple moving average is $224.32 and its 200-day simple moving average is $225.80. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $179.63 and a 52 week high of $244.14.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. Analog Devices’s dividend payout ratio is currently 111.85%.

Analyst Ratings Changes

Several research firms have recently issued reports on ADI. Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial decreased their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday. TD Cowen dropped their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday. Bank of America decreased their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Piper Sandler dropped 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. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction 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 represents a 18.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $24,883,200 in the last ninety days. Insiders own 0.31% of the company’s stock.

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.