Verity & Verity LLC Purchases New Shares in Analog Devices, Inc. (NASDAQ:ADI)

Verity & Verity LLC purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,237 shares of the semiconductor company’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pathstone Holdings LLC raised its position in Analog Devices by 1.5% in the 3rd quarter. Pathstone Holdings LLC now owns 71,981 shares of the semiconductor company’s stock worth $16,568,000 after purchasing an additional 1,050 shares during the last quarter. GLOBALT Investments LLC GA raised its position in shares of Analog Devices by 30.5% during the third quarter. GLOBALT Investments LLC GA now owns 32,094 shares of the semiconductor company’s stock worth $7,387,000 after acquiring an additional 7,498 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Analog Devices during the third quarter valued at $210,000. Swiss National Bank boosted its holdings in Analog Devices by 0.3% in the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after acquiring an additional 4,600 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Analog Devices by 2.4% in the third quarter. Thrivent Financial for Lutherans now owns 25,336 shares of the semiconductor company’s stock worth $5,832,000 after purchasing an additional 582 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,495 shares of company stock worth $25,229,958. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ADI shares. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America reduced their price objective on shares of 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 reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial cut shares of 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 note on Monday, September 23rd. Finally, Morgan Stanley raised their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Price Performance

NASDAQ ADI opened at $209.65 on Tuesday. 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 12-month low of $179.44 and a 12-month high of $244.14. The company has a market capitalization of $104.09 billion, a PE ratio of 62.96, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08. The firm’s 50 day moving average is $225.70 and its 200-day moving average is $225.44.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business 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 business earned $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. Equities research analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.76%. Analog Devices’s dividend payout ratio is presently 110.51%.

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.