Dumont & Blake Investment Advisors LLC Cuts Position in Analog Devices, Inc. (NASDAQ:ADI)

Dumont & Blake Investment Advisors LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 50.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,434 shares of the semiconductor company’s stock after selling 1,434 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Analog Devices were worth $330,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norden Group LLC grew its position in shares of Analog Devices by 1,534.0% during the first quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company’s stock worth $5,355,000 after acquiring an additional 25,419 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in shares of Analog Devices by 16.4% in the first quarter. New Mexico Educational Retirement Board now owns 30,586 shares of the semiconductor company’s stock valued at $6,050,000 after acquiring an additional 4,300 shares in the last quarter. Tidal Investments LLC increased its position in Analog Devices by 24.9% during the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock worth $6,268,000 after purchasing an additional 6,314 shares during the period. BDF Gestion acquired a new stake in shares of Analog Devices in the 2nd quarter valued at approximately $4,491,000. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Analog Devices by 3.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock valued at $16,912,000 after buying an additional 2,280 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

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

Analog Devices Trading Up 0.2 %

NASDAQ:ADI opened at $230.17 on Friday. The stock has a market cap of $114.21 billion, a PE ratio of 53.78, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The stock’s 50-day moving average is $226.71 and its two-hundred day moving average is $221.75.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate 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 17.07% and a return on equity of 9.47%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.49 EPS. As a group, equities research analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.60%. Analog Devices’s payout ratio is 85.98%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley increased their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.