Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 6.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 799,786 shares of the semiconductor company's stock after selling 52,722 shares during the period. Stifel Financial Corp owned 0.16% of Analog Devices worth $184,102,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,000 shares of company stock valued at $22,596,300. Corporate insiders own 0.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ADI. Truist Financial lowered their target price on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a research note on Wednesday, November 27th. Cantor Fitzgerald restated a "neutral" rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Bank of America lowered 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. Morgan Stanley lowered their target price on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a research note on Wednesday, November 27th. Finally, TD Cowen decreased their price target on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $249.33.

Analog Devices Stock Performance

Shares of Analog Devices stock traded up $3.65 during trading on Friday, hitting $218.20. 3,189,366 shares of the company's stock were exchanged, compared to its average volume of 3,229,616. 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 business has a 50-day simple moving average of $223.45 and a 200-day simple moving average of $226.02. Analog Devices, Inc. has a 52-week low of $180.37 and a 52-week high of $244.14. The stock has a market capitalization of $108.29 billion, a price-to-earnings ratio of 66.32, a PEG ratio of 2.52 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter in the previous year, the company earned $2.01 earnings per share. The firm's revenue for the quarter was down 10.1% on a year-over-year basis. On average, research analysts forecast that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be issued a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. Analog Devices's payout ratio is 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.