Heritage Financial Services LLC Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Heritage Financial Services LLC decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.2% in the 3rd quarter, Holdings Channel reports. The firm owned 3,163 shares of the semiconductor company’s stock after selling 282 shares during the period. Heritage Financial Services LLC’s holdings in Analog Devices were worth $728,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sovereign Financial Group Inc. bought a new position in Analog Devices in the 1st quarter worth about $237,000. Wealthcare Advisory Partners LLC lifted its stake in shares of Analog Devices by 28.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,045 shares of the semiconductor company’s stock worth $800,000 after purchasing an additional 890 shares during the period. Norway Savings Bank grew its position in shares of Analog Devices by 4.3% during the 1st quarter. Norway Savings Bank now owns 12,862 shares of the semiconductor company’s stock valued at $2,544,000 after acquiring an additional 535 shares during the period. Financial Management Professionals Inc. increased its position in Analog Devices by 351.1% in the first quarter. Financial Management Professionals Inc. now owns 1,254 shares of the semiconductor company’s stock worth $248,000 after buying an additional 976 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its position in shares of Analog Devices by 92.6% in the first quarter. Independence Bank of Kentucky now owns 624 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 300 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 1.2 %

ADI opened at $229.68 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The firm’s fifty day moving average price is $226.59 and its 200 day moving average price is $221.70. The stock has a market capitalization of $113.97 billion, a PE ratio of 53.66, a P/E/G ratio of 3.87 and a beta of 1.07.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.60%. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Edward H. Frank sold 995 shares of the stock in a transaction that occurred on 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 sale, the director now owns 3,753 shares in the company, valued at $879,365.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Bank of America decreased their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays upped their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.