Analog Devices, Inc. $ADI Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 14.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,101 shares of the semiconductor company’s stock after selling 1,205 shares during the period. Advisors Asset Management Inc.’s holdings in Analog Devices were worth $1,690,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Baader Bank Aktiengesellschaft boosted its position in Analog Devices by 3.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock worth $270,000 after purchasing an additional 43 shares during the period. Bennett Associates Wealth Management increased its holdings in Analog Devices by 2.9% during the 2nd quarter. Bennett Associates Wealth Management now owns 1,624 shares of the semiconductor company’s stock worth $387,000 after purchasing an additional 46 shares during the last quarter. Solstein Capital LLC raised its holdings in Analog Devices by 2.0% in the second quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock valued at $549,000 after acquiring an additional 46 shares in the last quarter. Keystone Financial Services raised its stake in shares of Analog Devices by 1.2% in the 2nd quarter. Keystone Financial Services now owns 3,837 shares of the semiconductor company’s stock valued at $913,000 after purchasing an additional 46 shares in the last quarter. Finally, EFG Asset Management North America Corp. raised its stake in Analog Devices by 0.3% during the first quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company’s stock valued at $2,866,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 2.9%

ADI opened at $265.52 on Friday. The business has a 50 day moving average of $239.64 and a 200-day moving average of $236.28. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $265.75. The company has a current ratio of 2.32, a quick ratio of 1.79 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $130.62 billion, a price-to-earnings ratio of 67.73, a P/E/G ratio of 1.98 and a beta of 1.09.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the firm earned $1.67 EPS. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be issued a $0.99 dividend. The ex-dividend date is Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.5%. Analog Devices’s dividend payout ratio (DPR) is currently 86.84%.

Analyst Ratings Changes

A number of brokerages have issued reports on ADI. The Goldman Sachs Group reissued a “buy” rating and issued a $300.00 target price on shares of Analog Devices in a report on Tuesday. Cfra reaffirmed a “buy” rating and issued a $280.00 price target on shares of Analog Devices in a research note on Tuesday. KeyCorp raised their target price on Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Piper Sandler set a $290.00 target price on shares of Analog Devices in a report on Tuesday. Finally, Stifel Nicolaus set a $280.00 price target on Analog Devices in a research note on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $281.87.

Insider Buying and Selling at Analog Devices

In related news, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the sale, the director owned 5,118 shares in the company, valued at $1,242,343.32. This represents a 16.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the sale, the director owned 142,571 shares in the company, valued at $32,821,269.91. This trade represents a 2.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,750 shares of company stock worth $9,598,496 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Company 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.