Ferguson Wellman Capital Management Inc. Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Ferguson Wellman Capital Management Inc. cut its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,744 shares of the semiconductor company's stock after selling 4,236 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Analog Devices were worth $28,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company's stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company's stock worth $1,614,735,000 after acquiring an additional 1,330,242 shares during the period. Capital International Investors raised its stake in shares of Analog Devices by 14.3% in the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company's stock valued at $1,019,726,000 after acquiring an additional 644,945 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company's stock valued at $1,078,617,000 after purchasing an additional 700,862 shares during the period. Finally, American Century Companies Inc. grew its stake in Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company's stock worth $993,293,000 after purchasing an additional 767,534 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

Shares of Analog Devices stock traded down $0.60 on Thursday, reaching $212.24. 3,209,385 shares of the stock were exchanged, compared to its average volume of 3,215,282. The firm has a market capitalization of $105.38 billion, a PE ratio of 63.92, a PEG ratio of 3.08 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $178.66 and a 1-year high of $244.14. The business has a fifty day moving average price of $226.16 and a two-hundred day moving average price of $225.02. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

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

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.73%. The ex-dividend date was Tuesday, September 3rd. Analog Devices's payout ratio is currently 110.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. Oppenheimer reiterated an "outperform" rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Truist Financial cut shares of Analog Devices from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. increased their target price on Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Six 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.80.

Insiders Place Their Bets

In related news, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now owns 3,753 shares of the company's stock, valued at $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares of the company's stock, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is owned by corporate insiders.

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.