Douglas Lane & Associates LLC Buys New Position in Analog Devices, Inc. (NASDAQ:ADI)

Douglas Lane & Associates LLC purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) in the third quarter, Holdings Channel.com reports. The fund purchased 10,260 shares of the semiconductor company’s stock, valued at approximately $2,362,000.

Several other large investors have also added to or reduced their stakes in the stock. New Millennium Group LLC bought a new stake in Analog Devices during the 2nd quarter valued at approximately $29,000. Riverview Trust Co purchased a new stake in Analog Devices in the first quarter worth $30,000. ORG Partners LLC grew its stake in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the period. CVA Family Office LLC raised its holdings in Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in Analog Devices during the second quarter valued at $37,000. Institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on 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 approximately $11,640,975.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,495 shares of company stock valued at $20,794,658. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $232.86 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $223.68 and a 200-day moving average price of $220.07. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The firm has a market capitalization of $115.55 billion, a PE ratio of 54.41, a P/E/G ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 EPS. As a group, equities research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is 85.98%.

Analyst Ratings Changes

A number of analysts have recently weighed in on ADI shares. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Bank of America cut their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Company 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.