MidWestOne Financial Group Inc. Has $529,000 Stake in Analog Devices, Inc. (NASDAQ:ADI)

MidWestOne Financial Group Inc. trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,299 shares of the semiconductor company’s stock after selling 70 shares during the period. MidWestOne Financial Group Inc.’s holdings in Analog Devices were worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the third quarter worth about $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices during the second quarter worth about $29,000. Archer Investment Corp boosted its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC boosted its position in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Analog Devices during the second quarter valued at approximately $37,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Down 1.6 %

Shares of NASDAQ ADI opened at $215.61 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The company has a market cap of $107.01 billion, a price-to-earnings ratio of 65.53, a PEG ratio of 2.48 and a beta of 1.05. Analog Devices, Inc. has a 12 month low of $181.80 and a 12 month high of $244.14. The stock has a 50-day moving average price of $222.95 and a two-hundred day moving average price of $225.88.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.01 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s payout ratio is presently 111.85%.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business’s 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 transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 21.57 % 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, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock worth $22,596,300 over the last ninety days. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Oppenheimer restated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. TD Cowen dropped their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Truist Financial dropped their price objective on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $249.33.

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.