Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Tower View Wealth Management LLC

Tower View Wealth Management LLC lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,242 shares of the semiconductor company’s stock after selling 87 shares during the period. Tower View Wealth Management LLC’s holdings in Analog Devices were worth $2,588,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Analog Devices by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Analog Devices by 19.5% during the first 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 lifted its position in shares of Analog Devices by 14.3% during the 1st quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after buying an additional 644,945 shares during the last quarter. American Century Companies Inc. grew its position 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 valued at $993,293,000 after buying an additional 767,534 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of 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 valued at $963,788,000 after buying an additional 211,202 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is currently owned by company insiders.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $229.74 on Monday. The business has a fifty day simple moving average of $226.85 and a 200-day simple moving average of $222.29. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The company has a market cap of $114.00 billion, a P/E ratio of 53.78, a P/E/G 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.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company posted $2.49 EPS. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. Equities research analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.60%. Analog Devices’s payout ratio is 85.98%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Bank of America dropped their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

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.