JPMorgan Investment Management, I has recently announced that it has increased stake in Analog Devices Inc. (NASDAQ:ADI) by 15.40%. After grabbing 16.21 million shares, the institutional investor is now in possession of 2.16 million shares of the Technology Company. The new investment brought the stake of investor firm to 3.27% having worth around $2.97 billion. Moreover, Massachusetts Financial Services increased its share by 2.5 million to have a control over 13.87 million shares. And Geode Capital Management LLC raised its holdings to 0.11 million shares by acquiring 9.7 million shares or 1.96% of the stake.
Analog Devices Inc. (ADI) concluded trading on 12/28/23 at a closing price of $200.24, with 2.16 million shares of worth about $432.88 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 5.68% during that period and on Thursday the price saw a gain of about 0.45%. Currently the company’s common shares owned by public are about 496.26M shares, out of which, 494.38M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 31 analysts are covering the ADI stock and their offered price forecasts bring an average price target of $205.24. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $225.00 and could fall to a lowest price of $175.00. The stock’s current price level is 2.44% above of average price target set by the analysts, while a rise to estimated low would result in loss of -14.42% for the stock. However, touching the estimated high of $225.00 would mean a gain of 11.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 117 times over the past 12 months. They bought 394,717 shares in 51 of the transactions. In 66 selling transactions, insiders dumped 289,221 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust are the top 3 mutual funds which are holding stakes in Analog Devices Inc. Vanguard Total Stock Market ETF is currently holding 15.61 million shares of worth totaling $2.86 billion. The company recently came buying 23248.0 shares which brought its stake up to 3.15% of the company’s outstanding shares. Vanguard 500 Index Fund bought 59599.0 shares, after which its hold over company’s outstanding shares expand to 2.44%, leaving 12.11 million shares with the mutual fund that have a worth of about $2.22 billion. Invesco QQQ Trust, after selling 8.67 million shares, have now control over 1.75% of the stake in the company. It holds 29412.0 shares of worth $1.59 billion.
Analog Devices Inc. (NASDAQ: ADI) started trading at $200.86, above $1.51 from concluding price of the previous day. However, the stock later moved at a day high price of 201.47, or with a gain of 0.45%. Stock saw a price change of 4.19% in past 5 days and over the past one month there was a price change of 9.30%. Year-to-date (YTD), ADI shares are showing a performance of 22.08% which increased to 23.45% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $154.99 but also hit the highest price of $202.77 during that period. The average intraday trading volume for Analog Devices Inc. shares is 3.22 million. The stock is currently trading 4.96% above its 20-day simple moving average (SMA20), while that difference is up 11.95% for SMA50 and it goes to 9.48% higher than SMA200.
JPMorgan Investment Management, I acquired 16.21 million shares of Analog Devices Inc. having value of about $2.97 billion. Data submitted at the U.S SEC by JPMorgan Investment Management, I revealed that the firm now holds 2.16 million shares in the company valued at close to $433304742.48, or have control over 15.40% stake in the company. Analog Devices Inc. (NASDAQ: ADI) currently have 496.26M outstanding shares and institutions hold larger chunk of about 89.17% of that. Holding of mutual funds in the company is about 37.10% while other institutional holders and individual stake holders have control over 53.28% and 0.79% of the stake respectively.
The stock has a current market capitalization of $99.37B and its 3Y-monthly beta is at 1.22. PE ratio of stock for trailing 12 months is 30.62, while it has posted earnings per share of $6.54 in the same period. It has Quick Ratio of 0.86 while making debt-to-equity ratio of 0.21. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ADI, volatility over the week remained 1.23% while standing at 1.80% over the month.
Analysts are in expectations that Analog Devices Inc. (ADI) stock would likely to be making an EPS of $PIMCO Dynamic Income Fund in the current quarter, while forecast for next quarter EPS is $17.81 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Archer-Daniels-Midland Company which is $Analog Devices, Inc. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Advent Technologies Holdings, I in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -30.20% while it is estimated to increase by 23.21% in next year. EPS is likely to shrink at an annualized rate of -1.51% for next 5-years, compared to annual growth of 10.35% made by the stock over the past 5-years.
Analysts at 31 brokerage firms have issued recommendations for the Analog Devices Inc. (ADI)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.77. Out of those 31 Wall Street analysts, 17 recommended a “Buy” rating, while 10 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
