Midland Wealth Advisors LLC Reduces Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Midland Wealth Advisors LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,794 shares of the semiconductor company’s stock after selling 73 shares during the period. Midland Wealth Advisors LLC’s holdings in Analog Devices were worth $638,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ADI. Vanguard Group Inc. increased its stake in Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Analog Devices by 8.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after acquiring an additional 1,197,215 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Analog Devices by 19.5% during the 1st 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 acquiring an additional 1,330,242 shares during the period. Norges Bank acquired a new stake in shares of Analog Devices in the fourth quarter worth approximately $1,225,227,000. Finally, Capital International Investors grew its stake 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 valued at $1,019,726,000 after buying an additional 644,945 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,107 shares of company stock worth $9,014,710. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

ADI stock traded down $11.94 during trading on Tuesday, hitting $222.90. The company had a trading volume of 527,298 shares, compared to its average volume of 3,350,134. The business has a 50 day moving average of $226.19 and a 200 day moving average of $213.32. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $110.67 billion, a price-to-earnings ratio of 54.87, a P/E/G ratio of 3.91 and a beta of 1.08. 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 posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.49 EPS. As a group, research analysts predict that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of research reports. Susquehanna boosted their price target on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research report on Thursday, May 23rd. Citigroup boosted their price objective on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Jefferies Financial Group initiated coverage on shares of Analog Devices in a report on Monday, May 13th. They set a “buy” rating and a $250.00 target price on the stock. Stifel Nicolaus upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Finally, UBS Group boosted their price target on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $251.45.

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.