Whitford Management LLC Lowers Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Whitford Management LLC decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 24.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,700 shares of the semiconductor company's stock after selling 3,200 shares during the period. Analog Devices accounts for about 1.3% of Whitford Management LLC's portfolio, making the stock its 12th largest position. Whitford Management LLC's holdings in Analog Devices were worth $2,233,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Analog Devices during the 3rd quarter valued at about $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices in the 2nd quarter worth approximately $29,000. Archer Investment Corp grew its position in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after buying an additional 73 shares during the last quarter. ORG Partners LLC grew its position in shares of 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 buying an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Analog Devices in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

NASDAQ:ADI traded up $3.29 during trading hours on Friday, reaching $217.84. 1,323,110 shares of the company were exchanged, compared to its average volume of 3,221,223. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average is $223.45 and its 200-day moving average is $226.02. The firm has a market cap of $108.11 billion, a PE ratio of 65.85, a price-to-earnings-growth ratio of 2.52 and a beta of 1.05. Analog Devices, Inc. has a twelve month low of $180.37 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.03. The company 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 firm's revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 earnings per share. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices's dividend payout ratio is presently 111.85%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 target price for the company. 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. Cantor Fitzgerald reiterated a "neutral" rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, TD Cowen lowered their target price on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $249.33.

Insider Activity

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company's stock, valued at $24,447,741.30. This represents a 21.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. This represents a 31.27 % 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 three months. Insiders own 0.31% of the company's stock.

About Analog Devices

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.