Analog Devices, Inc. (NASDAQ:ADI) Stock Position Reduced by AIA Group Ltd

AIA Group Ltd decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 25.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,788 shares of the semiconductor company's stock after selling 3,372 shares during the quarter. AIA Group Ltd's holdings in Analog Devices were worth $2,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the 2nd quarter valued at about $29,000. ORG Partners LLC grew its holdings in shares of Analog Devices by 675.0% in 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 period. CVA Family Office LLC increased its holdings in shares of Analog Devices by 40.2% during the 2nd 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 last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices in the 2nd quarter valued at $37,000. Finally, New Covenant Trust Company N.A. acquired a new position in Analog Devices in the first quarter valued at about $40,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of ADI stock traded down $1.97 during mid-day trading on Friday, hitting $225.80. The stock had a trading volume of 3,426,964 shares, compared to its average volume of 3,211,322. 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 $112.11 billion, a PE ratio of 67.81, a PEG ratio of 3.14 and a beta of 1.08. Analog Devices, Inc. has a fifty-two week low of $166.78 and a fifty-two week high of $244.14. The company's 50-day simple moving average is $226.61 and its 200-day simple moving average is $224.39.

Analog Devices (NASDAQ:ADI - Get Free Report) 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. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm posted $2.49 EPS. The business's revenue was down 24.8% compared to the same quarter last year. Sell-side analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices's dividend payout ratio (DPR) is presently 110.51%.

Wall Street Analyst Weigh In

A number of research analysts have commented on ADI shares. Oppenheimer restated an "outperform" rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price objective 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. Truist Financial downgraded Analog Devices from a "buy" rating to a "hold" rating and dropped their price objective for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Barclays boosted their target price on Analog Devices from $235.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $249.80.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm's stock in a transaction dated 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 $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company's stock, valued at approximately $11,672,108.91. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,495 shares of company stock valued at $25,229,958 in the last ninety days. Corporate 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.