Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 38.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,286 shares of the semiconductor company’s stock after selling 7,120 shares during the period. Valley National Advisers Inc.’s holdings in Analog Devices were worth $2,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADI. Wealthcare Advisory Partners LLC lifted its stake in Analog Devices by 28.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,045 shares of the semiconductor company’s stock valued at $800,000 after buying an additional 890 shares in the last quarter. Independence Bank of Kentucky increased its holdings in Analog Devices by 92.6% during the 1st 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. Vicus Capital purchased a new stake in Analog Devices during the 1st quarter worth about $257,000. Symphony Financial Ltd. Co. purchased a new stake in Analog Devices during the 1st quarter worth about $204,000. Finally, Founders Financial Securities LLC purchased a new stake in Analog Devices during the 1st quarter worth about $470,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on ADI. Morgan Stanley increased their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America decreased their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Barclays raised their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Price Performance

ADI opened at $230.17 on Friday. The stock has a fifty day moving average of $226.85 and a 200-day moving average of $222.11. The firm has a market capitalization of $114.21 billion, a P/E ratio of 53.78, a PEG ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.27 billion. During the same period last year, the company earned $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. Equities analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

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

Insider Activity

In related news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is owned by insiders.

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.