Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,857 shares of the semiconductor company’s stock after selling 1,170 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Analog Devices were worth $10,095,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after acquiring an additional 39,186 shares during the period. Swiss National Bank raised its holdings in shares of Analog Devices by 0.3% during the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after purchasing an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in Analog Devices by 47.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares during the period. Summit Global Investments purchased a new stake in Analog Devices in the third quarter valued at $867,000. Finally, Versor Investments LP acquired a new stake in Analog Devices during the 3rd quarter worth about $952,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler lowered their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley lowered their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Bank of America decreased their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the sale, the chief executive officer now owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. This represents a 18.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. The trade was a 27.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock worth $22,596,300 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 1.7 %

NASDAQ ADI opened at $218.20 on Friday. The business has a fifty day moving average price of $223.17 and a 200 day moving average price of $226.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The company has a market cap of $108.29 billion, a P/E ratio of 66.32, a P/E/G ratio of 2.48 and a beta of 1.05. Analog Devices, Inc. has a one year low of $180.37 and a one year high of $244.14.

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

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Analog Devices 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.