Patriot Investment Management Group Inc. Sells 133 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Patriot Investment Management Group Inc. lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,302 shares of the semiconductor company’s stock after selling 133 shares during the period. Patriot Investment Management Group Inc.’s holdings in Analog Devices were worth $760,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ADI. Vanguard Group Inc. raised its position in Analog Devices by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares in the last quarter. Capital International Investors grew its holdings in shares of Analog Devices by 14.3% during the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after buying an additional 644,945 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Analog Devices by 21.4% in the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after purchasing an additional 767,534 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Analog Devices by 5.3% in the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after buying an additional 211,202 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADI shares. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Morgan Stanley upped their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Barclays raised 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. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Insider Transactions at Analog Devices

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

Analog Devices Trading Up 0.9 %

Shares of Analog Devices stock opened at $232.86 on Monday. The firm has a market cap of $115.55 billion, a PE ratio of 54.41, a P/E/G ratio of 3.87 and a beta of 1.07. The business’s fifty day moving average is $223.68 and its two-hundred day moving average is $220.07. 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 quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.49 earnings per share. 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 declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 annualized dividend and a dividend yield of 1.58%. Analog Devices’s payout ratio is 85.98%.

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.