Comgest Global Investors S.A.S. Sells 174,116 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Comgest Global Investors S.A.S. reduced its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 15.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 926,907 shares of the semiconductor company's stock after selling 174,116 shares during the quarter. Analog Devices makes up 3.1% of Comgest Global Investors S.A.S.'s portfolio, making the stock its 15th largest holding. Comgest Global Investors S.A.S. owned approximately 0.19% of Analog Devices worth $213,346,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. KPP Advisory Services LLC raised its stake in Analog Devices by 14.8% during the third quarter. KPP Advisory Services LLC now owns 1,573 shares of the semiconductor company's stock worth $362,000 after acquiring an additional 203 shares in the last quarter. Maxwell Wealth Strategies Inc. acquired a new position in Analog Devices during the third quarter worth $1,345,000. Natixis Advisors LLC raised its stake in Analog Devices by 6.9% during the third quarter. Natixis Advisors LLC now owns 763,472 shares of the semiconductor company's stock worth $175,728,000 after acquiring an additional 49,612 shares in the last quarter. Archer Investment Corp raised its stake in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 73 shares in the last quarter. Finally, Empirical Finance LLC raised its stake in Analog Devices by 2.0% during the third quarter. Empirical Finance LLC now owns 17,370 shares of the semiconductor company's stock worth $3,998,000 after acquiring an additional 335 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Truist Financial lowered Analog Devices from a "buy" rating to a "hold" rating and lowered their target price for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Oppenheimer restated an "outperform" rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley raised their target price on Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd. Finally, Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $249.80.

Analog Devices Stock Down 2.8 %

Shares of NASDAQ:ADI traded down $5.89 during trading on Friday, hitting $206.35. 3,880,962 shares of the company's stock traded hands, compared to its average volume of 3,218,283. Analog Devices, Inc. has a 52 week low of $178.66 and a 52 week high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company has a market cap of $102.45 billion, a price-to-earnings ratio of 61.97, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The company has a 50-day moving average price of $225.88 and a 200-day moving average price of $224.95.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices's dividend payout ratio (DPR) is 110.51%.

Insiders Place Their Bets

In related news, Director Edward H. Frank sold 500 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The trade was a 9.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock valued at $25,229,958 in the last 90 days. 0.31% of the stock is currently owned by insiders.

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.