Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 100,774 shares of the semiconductor company’s stock after selling 2,226 shares during the period. WASHINGTON TRUST Co’s holdings in Analog Devices were worth $23,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norden Group LLC lifted its holdings in Analog Devices by 1,534.0% in the 1st quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company’s stock valued at $5,355,000 after purchasing an additional 25,419 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Analog Devices by 24.9% during the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock worth $6,268,000 after acquiring an additional 6,314 shares during the period. BDF Gestion purchased a new position in shares of Analog Devices during the 2nd quarter worth $4,491,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Analog Devices by 3.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock worth $16,912,000 after acquiring an additional 2,280 shares during the period. Finally, Interval Partners LP purchased a new position in shares of Analog Devices during the 1st quarter worth $1,978,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the sale, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,495 shares of company stock valued at $20,794,658 over the last three months. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Down 1.3 %

ADI traded down $3.16 on Wednesday, reaching $232.07. The company’s stock had a trading volume of 215,400 shares, compared to its average volume of 3,204,490. The stock has a 50 day moving average of $227.17 and a two-hundred day moving average of $222.82. 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 market capitalization of $115.22 billion, a price-to-earnings ratio of 70.64, a P/E/G ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a fifty-two week low of $155.16 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm 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%. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.49 earnings per share. As a group, 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. Investors 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 1.59%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 110.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Bank of America reduced their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their price objective for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Oppenheimer restated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company 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.