Wedbush Securities Inc. Sells 1,930 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wedbush Securities Inc. cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 19.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,817 shares of the semiconductor company’s stock after selling 1,930 shares during the quarter. Wedbush Securities Inc.’s holdings in Analog Devices were worth $1,784,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. New Millennium Group LLC acquired a new stake in shares of Analog Devices in the 2nd quarter valued at approximately $29,000. USA Financial Formulas lifted its stake in Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of Analog Devices in the 4th quarter valued at about $29,000. Riverview Trust Co acquired a new position in shares of Analog Devices during the 1st quarter worth about $30,000. Finally, ORG Partners LLC raised its holdings in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI opened at $218.56 on Tuesday. The firm’s fifty day moving average price is $225.26 and its two-hundred day moving average price is $214.30. The stock has a market cap of $108.45 billion, a PE ratio of 51.07, a PEG ratio of 3.55 and a beta of 1.07. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analog Devices (NASDAQ:ADI) last issued its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, equities analysts expect that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.92 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. Analog Devices’s payout ratio is presently 85.98%.

Analyst Ratings Changes

ADI has been the topic of a number of recent analyst reports. Citigroup boosted their target price on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Truist Financial decreased their price objective on shares of Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Stifel Nicolaus raised their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. 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, Sanford C. Bernstein increased their price target on shares of Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $251.45.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Edward H. Frank sold 995 shares of the company’s 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 sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred 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 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 quarter, insiders have sold 49,107 shares of company stock worth $11,301,610. Insiders own 0.31% of the company’s stock.

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.