Forbes J M & Co. LLP Has $921,000 Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Forbes J M & Co. LLP cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 14.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,000 shares of the semiconductor company’s stock after selling 698 shares during the period. Forbes J M & Co. LLP’s holdings in Analog Devices were worth $921,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Canoe Financial LP increased its stake 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 worth $140,607,000 after purchasing an additional 212,432 shares during the last quarter. Pointe Capital Management LLC boosted its holdings in shares of Analog Devices by 4.2% during the 3rd quarter. Pointe Capital Management LLC now owns 1,808 shares of the semiconductor company’s stock worth $416,000 after buying an additional 73 shares during the period. Custom Index Systems LLC bought a new stake in shares of Analog Devices during the 3rd quarter worth about $212,000. Motiv8 Investments LLC bought a new stake in shares of Analog Devices during 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% during the 3rd quarter. State of Alaska Department of Revenue now owns 57,647 shares of the semiconductor company’s stock worth $13,268,000 after buying an additional 3,730 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $0.62 during midday trading on Monday, hitting $230.79. The stock had a trading volume of 592,495 shares, compared to its average volume of 3,210,574. The company’s 50-day moving average price is $226.85 and its 200-day moving average price is $222.29. The company has a market capitalization of $114.52 billion, a P/E ratio of 53.68, 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. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14.

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 analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.49 EPS. As a group, equities research analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is 85.98%.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’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 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 transaction was disclosed in a document filed 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 company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the transaction, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’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 transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, 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. Insiders sold a total of 91,495 shares of company stock worth $20,794,658 in the last three months. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADI has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Barclays lifted their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Bank of America cut their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average price target 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.