Comgest Global Investors S.A.S. Decreases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Comgest Global Investors S.A.S. lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 926,907 shares of the semiconductor company’s stock after selling 174,116 shares during the quarter. Analog Devices comprises about 3.1% of Comgest Global Investors S.A.S.’s holdings, making the stock its 15th largest position. Comgest Global Investors S.A.S.’s holdings in Analog Devices were worth $213,346,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADI. Baader Bank Aktiengesellschaft raised its holdings in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 43 shares in the last quarter. Grove Bank & Trust raised its holdings in Analog Devices by 3.1% during the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock worth $333,000 after purchasing an additional 43 shares in the last quarter. CVA Family Office LLC grew its position in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares during the period. Legacy Financial Advisors Inc. grew its position in Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after buying an additional 48 shares during the period. Finally, Quotient Wealth Partners LLC grew its position in Analog Devices by 2.5% during the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have 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. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Trading Down 2.8 %

NASDAQ:ADI traded down $5.89 during trading hours on Friday, reaching $206.35. 3,880,962 shares of the company were exchanged, compared to its average volume of 3,218,283. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm has a market cap of $102.45 billion, a price-to-earnings ratio of 61.97, a PEG ratio of 2.98 and a beta of 1.08. Analog Devices, Inc. has a 52-week low of $178.66 and a 52-week high of $244.14. The stock has a 50 day simple moving average of $225.88 and a 200 day simple moving average of $224.95.

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

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 110.51%.

Insider Activity

In related news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,495 shares of company stock valued at $25,229,958. Company insiders own 0.31% of the company’s stock.

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.