Point72 Europe London LLP Makes New $26.16 Million Investment in Analog Devices, Inc. (NASDAQ:ADI)

Point72 Europe London LLP bought a new position in Analog Devices, Inc. (NASDAQ:ADI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 113,645 shares of the semiconductor company’s stock, valued at approximately $26,158,000. Analog Devices makes up about 1.7% of Point72 Europe London LLP’s portfolio, making the stock its 7th largest holding.

Several other large investors also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after buying an additional 665,149 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Analog Devices by 17.3% during the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after buying an additional 700,862 shares during the period. American Century Companies Inc. boosted its holdings in shares of Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after buying an additional 767,534 shares during the period. Legal & General Group Plc boosted its holdings in shares of Analog Devices by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after buying an additional 211,202 shares during the period. Finally, Dimensional Fund Advisors LP boosted 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 buying an additional 171,893 shares during the period. 86.81% of the stock is owned by institutional investors.

Analog Devices Price Performance

Analog Devices stock opened at $218.05 on Friday. The business’s fifty day moving average is $224.14 and its two-hundred day moving average is $225.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.84. The firm has a market cap of $108.22 billion, a P/E ratio of 66.28, a P/E/G ratio of 3.35 and a beta of 1.08. Analog Devices, Inc. has a 52 week low of $179.63 and a 52 week high of $244.14.

Analog Devices Dividend Announcement

The business 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 dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. TD Cowen decreased their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday. Truist Financial cut their target price on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Bank of America cut their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

Insider Buying and Selling at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value 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 approximately $24,447,741.30. This trade represents a 21.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. This represents a 18.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,000 shares of company stock worth $24,883,200. 0.31% of the stock is currently owned by corporate insiders.

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.