Mutual of America Capital Management LLC Sells 2,470 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Mutual of America Capital Management LLC cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,539 shares of the semiconductor company’s stock after selling 2,470 shares during the period. Mutual of America Capital Management LLC’s holdings in Analog Devices were worth $14,275,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ADI. New Millennium Group LLC bought a new position in Analog Devices during the second quarter valued at $29,000. Riverview Trust Co bought a new position in Analog Devices during the first quarter valued at $30,000. ORG Partners LLC grew its holdings in Analog Devices by 675.0% during the second 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. CVA Family Office LLC grew its holdings in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC bought a new position in Analog Devices during the second quarter valued at $37,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Up 0.9 %

ADI opened at $225.35 on Wednesday. The company has a market cap of $111.82 billion, a P/E ratio of 52.65, a P/E/G ratio of 3.74 and a beta of 1.07. The business’s 50-day moving average price is $224.35 and its 200-day moving average price is $215.68. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.49 earnings per share. On average, equities analysts expect that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. Analog Devices’s payout ratio is presently 85.98%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ADI shares. Susquehanna raised their price target on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. Barclays raised their price target on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Bank of America cut their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. UBS Group raised their price target on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Needham & Company LLC reaffirmed 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 seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $251.45.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction 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 approximately $11,672,108.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The disclosure for this sale can be found here. Insiders have sold 31,495 shares of company stock valued at $7,181,458 over the last ninety days. 0.31% of the stock is owned by insiders.

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.