Victory Capital Management Inc. Lowers Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Victory Capital Management Inc. reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 589,182 shares of the semiconductor company’s stock after selling 18,166 shares during the quarter. Victory Capital Management Inc. owned about 0.12% of Analog Devices worth $135,612,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in Analog Devices in the 3rd quarter worth approximately $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices in the second quarter valued at about $29,000. ORG Partners LLC lifted its holdings in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. CVA Family Office LLC boosted its position in shares of 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 acquiring an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Analog Devices during the second quarter valued at about $37,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock worth $25,229,958 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

ADI has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Barclays increased their target price on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Stock Down 0.4 %

Shares of NASDAQ:ADI opened at $219.55 on Wednesday. Analog Devices, Inc. has a 52-week low of $170.10 and a 52-week 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. The business has a fifty day moving average of $226.32 and a two-hundred day moving average of $224.99. The stock has a market cap of $109.00 billion, a P/E ratio of 65.93, a PEG ratio of 3.17 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last released its quarterly 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. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.49 EPS. On average, research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 110.51%.

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.