New York Life Investment Management LLC Sells 2,035 Shares of Analog Devices, Inc. $ADI

New York Life Investment Management LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,362 shares of the semiconductor company’s stock after selling 2,035 shares during the period. New York Life Investment Management LLC’s holdings in Analog Devices were worth $17,779,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Norges Bank bought a new position in Analog Devices during the second quarter valued at approximately $1,803,377,000. Marshall Wace LLP lifted its position in Analog Devices by 948.2% during the second quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock valued at $258,487,000 after purchasing an additional 982,385 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Analog Devices by 47.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,745,985 shares of the semiconductor company’s stock valued at $653,599,000 after buying an additional 882,909 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Analog Devices by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock valued at $11,955,086,000 after purchasing an additional 761,861 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Analog Devices by 684.6% in the 3rd quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock worth $211,871,000 after buying an additional 752,411 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ADI. Wells Fargo & Company set a $340.00 price target on Analog Devices and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Piper Sandler set a $290.00 price target on Analog Devices in a research report on Tuesday, November 25th. Bank of America raised their price target on Analog Devices from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Benchmark restated a “buy” rating and set a $285.00 target price on shares of Analog Devices in a research report on Wednesday, November 26th. Finally, KeyCorp boosted their target price on shares of Analog Devices from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average target price of $314.22.

Insider Buying and Selling

In other Analog Devices news, CAO Michael Sondel sold 8,169 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, SVP Martin Cotter sold 10,000 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $278.44, for a total value of $2,784,400.00. Following the completion of the sale, the senior vice president owned 49,664 shares in the company, valued at $13,828,444.16. The trade was a 16.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,544 shares of company stock worth $15,320,417 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $322.96 on Tuesday. The business has a 50-day simple moving average of $291.57 and a two-hundred day simple moving average of $258.09. The company has a market cap of $157.81 billion, a PE ratio of 70.82, a P/E/G ratio of 1.74 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $327.74.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. Analog Devices’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.67 EPS. As a group, equities analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.2%. Analog Devices’s payout ratio is 86.84%.

Analog Devices Profile

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.