Stonebrook Private Inc. has increased its stake in Analog Devices, Inc. (NASDAQ: ADI) by 6.0% during the first quarter of the year. This information was disclosed in the company’s latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC). The institutional investor now holds 10,378 shares of the semiconductor firm after acquiring an additional 589 shares during the reporting period. As of the end of the first quarter, Stonebrook’s investment in Analog Devices was valued at approximately $2,093,000.
Other institutional investors have also made adjustments to their holdings in Analog Devices recently. Vanguard Group Inc. increased its position by 0.8% in the fourth quarter, now owning 49,105,529 shares valued at $10.43 billion. Similarly, Geode Capital Management LLC raised its stake by 2.4%, bringing its total to 10,612,183 shares worth $2.25 billion. Furthermore, Norges Bank acquired a new stake worth approximately $1.76 billion, while FMR LLC and Northern Trust Corp also increased their holdings by 0.8% and 8.4%, respectively.
As a result, approximately 86.81% of Analog Devices’ stock is now held by hedge funds and other institutional investors.
Recent Insider Transactions
In related news, CEO Vincent Roche sold 10,000 shares of the company on May 1, receiving an average price of $196.84 per share, totaling $1,968,400. Following this transaction, Roche holds 142,996 shares valued at about $28.15 million, representing a 6.54% decrease in his ownership.
Additionally, Director Ray Stata sold 3,125 shares on May 6 at an average price of $195.84, amounting to $612,000. After the sale, Stata retains 180,071 shares, valued at $35.27 million, marking a 1.71% reduction in his stake. In total, insiders have sold 16,250 shares worth $3.14 million over the past three months, with insiders currently owning 0.33% of the company’s stock.
Stock Performance and Financial Overview
On May 22, Analog Devices reported its earnings results, indicating earnings per share of $1.85, surpassing the consensus estimate of $1.70 by $0.15. The company achieved a revenue of $2.64 billion for the quarter, significantly above analyst expectations of $2.50 billion. This represents a year-over-year revenue increase of 22.3%, compared to $1.40 earnings per share during the same period last year. Analysts predict that Analog Devices will post earnings per share of $7.14 for the current fiscal year.
The company’s shares opened at $242.72 on the day of reporting. Analog Devices has a 52-week low of $158.65 and a 52-week high of $247.73. It maintains a market capitalization of $120.45 billion and a price-to-earnings ratio of 66.14. The firm also announced a quarterly dividend of $0.99 per share, which was distributed on June 18, representing an annualized dividend of $3.96 and a yield of 1.63%.
Analog Devices, Inc. specializes in designing, manufacturing, and marketing integrated circuits (ICs) and related products across various global markets, including North America, Europe, and Asia. The company is known for its data converter products, power management solutions, and various applications in automotive, communications, industrial, and consumer sectors.
For further insights into Analog Devices and its investment landscape, additional information can be accessed through financial news services and filings with the SEC.
