Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,197 shares of the semiconductor company’s stock after selling 49 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Analog Devices were worth $736,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ADI. Canoe Financial LP raised its position in shares of Analog Devices by 54.0% during the 3rd quarter. Canoe Financial LP now owns 605,935 shares of the semiconductor company’s stock valued at $140,607,000 after acquiring an additional 212,432 shares in the last quarter. Pointe Capital Management LLC increased its stake in Analog Devices by 4.2% during the third quarter. Pointe Capital Management LLC now owns 1,808 shares of the semiconductor company’s stock valued at $416,000 after purchasing an additional 73 shares during the last quarter. Custom Index Systems LLC acquired a new stake in shares of Analog Devices during the third quarter worth $212,000. Motiv8 Investments LLC bought a new position in shares of Analog Devices in the 3rd quarter worth about $738,000. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Analog Devices by 6.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 57,647 shares of the semiconductor company’s stock valued at $13,268,000 after buying an additional 3,730 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

ADI has been the topic of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and reduced their price objective for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Barclays boosted their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $249.80.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Analog Devices news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The shares were 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 $1,078,935.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,495 shares of company stock valued at $20,794,658 in the last three months. 0.31% of the stock is currently owned by company insiders.

Analog Devices Stock Up 0.2 %

Shares of Analog Devices stock opened at $230.17 on Monday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The firm has a market capitalization of $114.21 billion, a PE ratio of 53.78, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $226.85 and its 200-day moving average is $222.29.

Analog Devices (NASDAQ:ADI) last posted 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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company earned $2.49 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. Equities analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced 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. This represents a $3.68 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 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.