Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Account Management LLC

Account Management LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,729 shares of the semiconductor company’s stock after selling 400 shares during the period. Analog Devices comprises about 1.2% of Account Management LLC’s portfolio, making the stock its 15th largest holding. Account Management LLC’s holdings in Analog Devices were worth $1,079,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. New Millennium Group LLC acquired a new stake in Analog Devices during the 2nd quarter valued at $29,000. USA Financial Formulas raised its stake in Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares during the period. Private Wealth Management Group LLC acquired a new stake in Analog Devices during the 4th quarter valued at $29,000. Riverview Trust Co acquired a new stake in Analog Devices during the 1st quarter valued at $30,000. Finally, ORG Partners LLC raised its stake in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ADI shares. Morgan Stanley upped their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Barclays upped their price target on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, July 16th. Truist Financial dropped their price target on shares of Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Citigroup upped their price target on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $251.45.

Analog Devices Stock Down 2.5 %

ADI stock opened at $213.64 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a 50-day moving average of $225.39 and a two-hundred day moving average of $213.80. The stock has a market capitalization of $106.01 billion, a price-to-earnings ratio of 49.92, a price-to-earnings-growth ratio of 3.91 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its earnings results 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. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the company earned $2.49 earnings per share. The firm’s revenue was down 24.8% on a year-over-year basis. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s dividend payout ratio is 85.98%.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares in the company, valued at $16,198,239.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The disclosure for this sale can be found here. Insiders sold a total of 49,107 shares of company stock worth $11,301,610 over the last quarter. Company insiders own 0.31% of the company’s stock.

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.