Commonwealth Equity Services LLC Has $65.17 Million Position in Analog Devices, Inc. $ADI

Commonwealth Equity Services LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 265,258 shares of the semiconductor company’s stock after selling 36,673 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.05% of Analog Devices worth $65,174,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Earned Wealth Advisors LLC acquired a new stake in shares of Analog Devices in the 3rd quarter valued at $354,000. Asset Management One Co. Ltd. raised its holdings in Analog Devices by 2.1% during the third quarter. Asset Management One Co. Ltd. now owns 221,106 shares of the semiconductor company’s stock valued at $54,326,000 after buying an additional 4,574 shares in the last quarter. Penobscot Investment Management Company Inc. raised its holdings in Analog Devices by 0.9% during the third quarter. Penobscot Investment Management Company Inc. now owns 11,504 shares of the semiconductor company’s stock valued at $2,827,000 after buying an additional 100 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its position in shares of Analog Devices by 3.8% in the third quarter. Moss Adams Wealth Advisors LLC now owns 1,542 shares of the semiconductor company’s stock worth $379,000 after buying an additional 57 shares during the last quarter. Finally, Community Financial Services Group LLC boosted its stake in shares of Analog Devices by 1.1% during the 3rd quarter. Community Financial Services Group LLC now owns 10,080 shares of the semiconductor company’s stock worth $2,477,000 after acquiring an additional 105 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Up 1.3%

Shares of ADI opened at $277.29 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The company has a 50-day simple moving average of $257.76 and a 200-day simple moving average of $246.23. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $284.23. The firm has a market capitalization of $135.78 billion, a P/E ratio of 60.81, a P/E/G ratio of 1.51 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the business earned $1.67 earnings per share. On average, equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a dividend of $0.99 per share. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. Analog Devices’s payout ratio is currently 86.84%.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of recent analyst reports. BNP Paribas began coverage on Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective on the stock. Sanford C. Bernstein reissued a “market perform” rating and issued a $270.00 price target on shares of Analog Devices in a research report on Wednesday, November 26th. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Stifel Nicolaus set a $280.00 price objective on shares of Analog Devices in a report on Friday, November 21st. Finally, Zacks Research upgraded shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.22.

Insider Buying and Selling at Analog Devices

In related news, CAO Michael Sondel sold 8,169 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the transaction, the chief accounting officer owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This represents a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Martin Cotter sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $271.19, for a total transaction of $1,355,950.00. Following the transaction, the senior vice president owned 59,664 shares of the company’s stock, valued at approximately $16,180,280.16. This represents a 7.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 39,419 shares of company stock worth $10,319,877. Corporate insiders own 0.33% of the company’s stock.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.