ETFs Bought $56.3 Million of Analog Devices (ADI) on Oct. 21
This article first appeared on GuruFocus.
SOXX led the move, as ETF activity in Wednesday’s session produced net buying of $56.3 million in Analog Devices (ADI), with 36 ETFs buying and 22 selling. The buying extended a four-day streak in the same direction. The prior sessions saw net inflows of $152.0 million on Oct. 20, $125.1 million on Oct. 19 and $1.6 million on Oct. 16, following a net outflow of $62.3 million on Oct. 15.
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For the full record of ETF and guru buying and selling in ADI, see the ADI guru trades page.
Which ETFs bought ADI on Wednesday?
The largest buyers by dollar value were SOXX ($58.1 million), QQQM ($2.0 million) and SPYV ($0.7 million). In all, 36 ETFs added shares and 22 cut them.
SOXX accounted for the bulk of the activity, adding 143,004 shares worth $58.1 million, a 2.87% increase in its stake, with the position at a 4.46% weight. QQQM added 4,898 shares for $2.0 million, while SPYV, SPYM and XLK each added $0.7 million. Analog Devices sits in the Technology sector and the Semiconductors industry, with a market cap of $186.9 billion.
Have ETFs been buying or selling ADI lately?
Over the last 5 reported days, ETFs were net buyers on 4 and net sellers on 1, so the recent trend is mostly buying.
What does ADI do?
Analog Devices is one of the world’s largest analog semiconductor companies, designing chips that bridge the physical and digital worlds. Its portfolio spans data converters, where it is the industry leader, amplifiers, power management, RF and microwave components, MEMS sensors, and digital signal processors.
Analog Devices reported trailing-12-month revenue of $13.88 billion, up 35.6% over one year, with a gross margin of 60.4% and a net margin of 29.8%. Its P/E ratio is 45.78, P/B 5.57 and P/S 13.64. The GF Score is 95, and GF Value of $349.16 compares with a price of $385.76. The dividend yield is 1.18%, and the stock is up 43.51% year to date.