Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 12.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,215 shares of the semiconductor company’s stock after selling 168 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Analog Devices were worth $277,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Private Wealth Partners LLC grew its stake in Analog Devices by 0.5% in the 2nd quarter. Private Wealth Partners LLC now owns 28,359 shares of the semiconductor company’s stock valued at $6,473,000 after acquiring an additional 130 shares during the period. Trueblood Wealth Management LLC grew its stake in Analog Devices by 1.3% in the 2nd quarter. Trueblood Wealth Management LLC now owns 8,795 shares of the semiconductor company’s stock valued at $2,008,000 after acquiring an additional 110 shares during the period. Eagle Strategies LLC purchased a new position in Analog Devices in the 2nd quarter valued at $212,000. Investment Partners LTD. lifted its holdings in Analog Devices by 2.9% in the 2nd quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock valued at $399,000 after purchasing an additional 50 shares in the last quarter. Finally, PFG Advisors lifted its holdings in Analog Devices by 3.2% in the 2nd quarter. PFG Advisors now owns 14,084 shares of the semiconductor company’s stock valued at $3,215,000 after purchasing an additional 440 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ADI shares. KeyCorp raised their price objective on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Barclays raised their price objective on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. UBS Group raised their price objective on Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Oppenheimer restated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Stifel Nicolaus raised their price objective on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a report on Monday, May 20th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.45.

Insider Buying and Selling at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the business’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 completion of the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Edward H. Frank sold 995 shares of the business’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 completion of the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was 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 directly owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The disclosure for this sale can be found here. Insiders sold a total of 31,495 shares of company stock valued at $7,181,458 in the last three months. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Up 1.8 %

Shares of ADI opened at $225.42 on Friday. The firm has a market cap of $111.92 billion, a P/E ratio of 52.67, a price-to-earnings-growth ratio of 3.74 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. The company’s 50-day moving average price is $224.69 and its 200 day moving average price is $214.88. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its earnings results 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 the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.49 EPS. On average, sell-side analysts forecast that Analog Devices, Inc. will post 6.33 earnings per share for the current 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 given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s dividend 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.