Transcend Capital Advisors LLC Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Transcend Capital Advisors LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,370 shares of the semiconductor company’s stock after selling 150 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Analog Devices were worth $541,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ADI. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Analog Devices by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after acquiring an additional 21,522 shares in the last quarter. Point72 Italy S.r.l. acquired a new position in shares of Analog Devices in the fourth quarter valued at about $6,367,000. Grayhawk Investment Strategies Inc. acquired a new position in shares of Analog Devices in the fourth quarter valued at about $850,000. CTC Alternative Strategies Ltd. acquired a new position in shares of Analog Devices in the fourth quarter valued at about $1,152,000. Finally, Capital International Investors boosted its stake in shares of Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after buying an additional 246,799 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,642 shares of company stock valued at $8,510,743. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial upped their target price on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Jefferies Financial Group started coverage on Analog Devices in a research report on Monday, May 13th. They set a “buy” rating and a $250.00 price target on the stock. Stifel Nicolaus increased their price target on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Sanford C. Bernstein increased their price target on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Finally, Oppenheimer increased their price target on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

Analog Devices Stock Performance

ADI stock traded down $10.96 during trading on Friday, hitting $207.96. The company had a trading volume of 6,796,683 shares, compared to its average volume of 3,382,127. The firm has a market cap of $103.19 billion, a PE ratio of 48.59, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The firm has a 50-day moving average price of $231.39 and a 200-day moving average price of $209.07. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.26 by $0.14. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s quarterly revenue was down 33.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.83 EPS. On average, analysts expect that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is currently 85.98%.

Analog Devices 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.