Fruth Investment Management Reduces Stake in Analog Devices, Inc. (NASDAQ:ADI)

Fruth Investment Management reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,360 shares of the semiconductor company’s stock after selling 400 shares during the period. Fruth Investment Management’s holdings in Analog Devices were worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norden Group LLC boosted its stake in shares of Analog Devices by 1,534.0% in the 1st quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company’s stock worth $5,355,000 after buying an additional 25,419 shares during the last quarter. New Mexico Educational Retirement Board boosted its stake in shares of Analog Devices by 16.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 30,586 shares of the semiconductor company’s stock worth $6,050,000 after buying an additional 4,300 shares during the last quarter. &PARTNERS purchased a new position in Analog Devices during the first quarter valued at $1,109,000. Trust Co of the South purchased a new position in Analog Devices during the first quarter valued at $666,000. Finally, Tidal Investments LLC lifted its position in Analog Devices by 24.9% during the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after purchasing an additional 6,314 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,495 shares of company stock valued at $20,794,658 over the last ninety days. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ADI has been the topic of several analyst reports. Barclays lifted 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. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer reiterated 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Trading Up 1.5 %

Shares of ADI stock opened at $236.43 on Tuesday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. 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 stock’s 50-day moving average price is $224.40 and its 200-day moving average price is $220.34. The stock has a market capitalization of $117.32 billion, a price-to-earnings ratio of 55.24, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the firm posted $2.49 earnings per share. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities research analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.56%. Analog Devices’s payout ratio is currently 85.98%.

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.