Confluence Investment Management LLC Trims Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Confluence Investment Management LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 651,446 shares of the semiconductor company's stock after selling 11,565 shares during the period. Analog Devices accounts for about 2.0% of Confluence Investment Management LLC's portfolio, making the stock its 11th largest holding. Confluence Investment Management LLC owned approximately 0.13% of Analog Devices worth $149,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth approximately $29,000. ORG Partners LLC lifted its stake 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 valued at $35,000 after purchasing an additional 135 shares during the last quarter. CVA Family Office LLC grew 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 purchasing an additional 45 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth about $37,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Analog Devices in the 1st quarter valued at about $40,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays raised their price target on Analog Devices from $235.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 18th. Morgan Stanley boosted their price objective on Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Finally, Oppenheimer restated an "outperform" rating and set a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Six 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, the company currently has an average rating of "Moderate Buy" and an average target price of $249.80.

Analog Devices Stock Down 0.9 %

Shares of NASDAQ ADI traded down $1.97 during mid-day trading on Friday, reaching $225.80. The company had a trading volume of 3,426,924 shares, compared to its average volume of 3,211,322. The firm has a 50 day simple moving average of $226.61 and a two-hundred day simple moving average of $224.39. Analog Devices, Inc. has a 52-week low of $166.78 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 stock has a market cap of $112.11 billion, a P/E ratio of 67.81, a PEG ratio of 3.14 and a beta of 1.08.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The business 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 revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.49 earnings per share. Sell-side analysts predict 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. Investors of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.63%. Analog Devices's dividend payout ratio (DPR) is 110.51%.

Insider Activity at Analog Devices

In related news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company's stock, valued at $1,078,935.52. This trade represents a 0.00 % 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. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the firm's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward H. Frank sold 500 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock worth $25,229,958 in the last quarter. Company insiders own 0.31% of the company's stock.

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.