American Century Companies Inc. Has $993.29 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

American Century Companies Inc. increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 21.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,351,585 shares of the semiconductor company’s stock after buying an additional 767,534 shares during the period. Analog Devices accounts for 0.6% of American Century Companies Inc.’s portfolio, making the stock its 18th largest holding. American Century Companies Inc. owned 0.88% of Analog Devices worth $993,293,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Analog Devices by 3.9% during the fourth quarter. International Assets Investment Management LLC now owns 4,710 shares of the semiconductor company’s stock worth $935,000 after purchasing an additional 176 shares during the period. 9258 Wealth Management LLC boosted its position in Analog Devices by 3.9% during the fourth quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock worth $444,000 after purchasing an additional 85 shares during the period. Avantax Advisory Services Inc. boosted its position in Analog Devices by 7.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 9,630 shares of the semiconductor company’s stock worth $1,912,000 after purchasing an additional 675 shares during the period. Quotient Wealth Partners LLC bought a new stake in Analog Devices during the fourth quarter worth approximately $316,000. Finally, Foundations Investment Advisors LLC boosted its position in Analog Devices by 14.7% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,720 shares of the semiconductor company’s stock worth $330,000 after purchasing an additional 220 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADI. Susquehanna upped their target price on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, July 16th. Bank of America lowered their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, TD Cowen raised their price objective on shares of Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.45.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The disclosure for this sale can be found here. In the last three months, insiders sold 31,495 shares of company stock valued at $7,181,458. 0.31% of the stock is currently owned by insiders.

Analog Devices Stock Performance

Analog Devices stock opened at $225.07 on Thursday. The stock has a 50-day simple moving average of $224.97 and a 200 day simple moving average of $214.58. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The stock has a market capitalization of $111.68 billion, a price-to-earnings ratio of 52.59, a P/E/G ratio of 3.55 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the business posted $2.49 earnings per share. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, research analysts anticipate that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.92 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.64%. Analog Devices’s dividend payout ratio is currently 85.98%.

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.