Lifeworks Advisors LLC Has $449,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Lifeworks Advisors LLC lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 38.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,949 shares of the semiconductor company’s stock after selling 1,199 shares during the period. Lifeworks Advisors LLC’s holdings in Analog Devices were worth $449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Analog Devices by 5.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,582 shares of the semiconductor company’s stock valued at $3,126,000 after buying an additional 700 shares during the period. Metis Global Partners LLC increased its stake in shares of Analog Devices by 5.0% in the third quarter. Metis Global Partners LLC now owns 29,064 shares of the semiconductor company’s stock valued at $6,690,000 after buying an additional 1,377 shares during the period. Zions Bancorporation N.A. increased its stake in shares of Analog Devices by 17.8% in the third quarter. Zions Bancorporation N.A. now owns 4,071 shares of the semiconductor company’s stock valued at $937,000 after buying an additional 615 shares during the period. Huntington National Bank increased its stake in shares of Analog Devices by 2.4% in the third quarter. Huntington National Bank now owns 471,158 shares of the semiconductor company’s stock valued at $108,447,000 after buying an additional 11,225 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd increased its stake in shares of Analog Devices by 18.9% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 6,481 shares of the semiconductor company’s stock valued at $1,492,000 after buying an additional 1,030 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $212.24 on Friday. 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 market capitalization of $105.38 billion, a price-to-earnings ratio of 63.74, a PEG ratio of 3.08 and a beta of 1.08. The stock has a 50 day moving average of $226.16 and a 200 day moving average of $225.02. Analog Devices, Inc. has a 12 month low of $178.66 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued 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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business posted $2.49 earnings per share. Analog Devices’s revenue was down 24.8% on a year-over-year basis. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Insider Activity

In related news, Director Edward H. Frank sold 500 shares of Analog Devices 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 of the company’s stock, valued at approximately $1,078,935.52. This trade represents a 9.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,672,108.91. This represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ADI shares. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and decreased their price target for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Barclays upped their target price 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. Bank of America cut their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, Oppenheimer restated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price 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.