PFG Advisors Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

PFG Advisors lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,792 shares of the semiconductor company’s stock after selling 1,292 shares during the quarter. PFG Advisors’ holdings in Analog Devices were worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. CWM LLC raised its position in shares of Analog Devices by 18.4% during the 1st quarter. CWM LLC now owns 16,061 shares of the semiconductor company’s stock valued at $3,177,000 after purchasing an additional 2,498 shares during the period. Rise Advisors LLC bought a new stake in shares of Analog Devices during the 1st quarter valued at $51,000. Montecito Bank & Trust raised its position in shares of Analog Devices by 13.3% during the 1st quarter. Montecito Bank & Trust now owns 2,110 shares of the semiconductor company’s stock valued at $417,000 after purchasing an additional 248 shares during the period. Perpetual Ltd raised its position in shares of Analog Devices by 51.6% during the 1st quarter. Perpetual Ltd now owns 4,236 shares of the semiconductor company’s stock valued at $838,000 after purchasing an additional 1,441 shares during the period. Finally, Wedmont Private Capital raised its position in shares of Analog Devices by 3.0% during the 1st quarter. Wedmont Private Capital now owns 3,506 shares of the semiconductor company’s stock valued at $716,000 after purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,495 shares of company stock valued at $20,794,658 in the last three months. Company insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

ADI stock opened at $227.49 on Thursday. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $225.34 and a 200 day moving average price of $220.58. The stock has a market cap of $112.88 billion, a PE ratio of 53.15, a P/E/G ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the company earned $2.49 EPS. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.62%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Analysts Set New Price Targets

ADI has been the topic of several recent analyst reports. Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

About Analog Devices

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.