Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,856 shares of the semiconductor company’s stock after selling 1,180 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Analog Devices were worth $10,695,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ADI. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Analog Devices by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after acquiring an additional 21,522 shares in the last quarter. Point72 Italy S.r.l. bought a new position in Analog Devices during the 4th quarter valued at $6,367,000. Grayhawk Investment Strategies Inc. acquired a new position in shares of Analog Devices during the 4th quarter valued at $850,000. Capital International Investors lifted its holdings in shares of Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after buying an additional 246,799 shares during the period. Finally, Bradley Foster & Sargent Inc. CT grew its holdings in Analog Devices by 1,055.6% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after acquiring an additional 208,522 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADI. Bank of America reduced their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Barclays increased their price objective on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial reduced their target price on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Morgan Stanley lifted their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $6.23 on Tuesday, hitting $231.84. The stock had a trading volume of 3,101,174 shares, compared to its average volume of 3,371,787. The company has a market capitalization of $115.04 billion, a price-to-earnings ratio of 54.17, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The firm’s 50 day moving average price is $226.19 and its 200-day moving average price is $211.82. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.49 earnings per share. On average, equities research analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.92 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.59%. Analog Devices’s payout ratio is 85.98%.

Insider Activity

In other news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Edward H. Frank sold 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,112 shares of company stock valued at $8,781,571. Company insiders own 0.31% of the company’s stock.

Analog Devices 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.