Oak Harvest Investment Services Has $7.21 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Oak Harvest Investment Services lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 26.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,335 shares of the semiconductor company’s stock after selling 11,535 shares during the quarter. Oak Harvest Investment Services’ holdings in Analog Devices were worth $7,212,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. New Millennium Group LLC acquired a new position in shares of Analog Devices in the 2nd quarter worth approximately $29,000. ORG Partners LLC increased its position in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. CVA Family Office LLC raised its stake in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices in the 2nd quarter worth approximately $37,000. Finally, New Covenant Trust Company N.A. bought a new stake in Analog Devices during the 1st quarter worth approximately $40,000. 86.81% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Edward H. Frank sold 995 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares in the company, valued at approximately $18,106,760.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. 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 81,495 shares of company stock worth $18,513,858 over the last three months. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 2.2 %

NASDAQ:ADI opened at $230.12 on Thursday. Analog Devices, Inc. has a 1 year low of $155.16 and a 1 year high of $244.14. The stock has a 50-day moving average price of $227.22 and a two-hundred day moving average price of $222.87. The stock has a market cap of $114.25 billion, a price-to-earnings ratio of 69.11, a PEG ratio of 3.87 and a beta of 1.07. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.49 EPS. As a group, equities analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is 110.51%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Oppenheimer restated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley raised their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a 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 note on Thursday, August 22nd. Finally, Bank of America dropped their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Company 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.