Cumberland Partners Ltd Sells 58,018 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Cumberland Partners Ltd lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 71.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,024 shares of the semiconductor company's stock after selling 58,018 shares during the period. Cumberland Partners Ltd's holdings in Analog Devices were worth $5,299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADI. Ashton Thomas Private Wealth LLC raised its stake in Analog Devices by 5.8% during the third quarter. Ashton Thomas Private Wealth LLC now owns 2,737 shares of the semiconductor company's stock worth $630,000 after purchasing an additional 151 shares during the period. First National Trust Co increased its holdings in Analog Devices by 1.7% in the third quarter. First National Trust Co now owns 11,638 shares of the semiconductor company's stock valued at $2,679,000 after buying an additional 190 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in Analog Devices by 6.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 12,368 shares of the semiconductor company's stock valued at $2,847,000 after purchasing an additional 720 shares in the last quarter. Keystone Financial Services lifted its position in Analog Devices by 7.2% during the 3rd quarter. Keystone Financial Services now owns 3,632 shares of the semiconductor company's stock worth $836,000 after acquiring an additional 244 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its position in Analog Devices by 13.0% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 17,353 shares of the semiconductor company's stock valued at $3,994,000 after buying an additional 1,994 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at approximately $4,921,334.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the firm's 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 completion of the sale, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at approximately $4,921,334.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 3,753 shares in the company, valued at $879,365.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,495 shares of company stock valued at $25,229,958. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Analog Devices from $235.00 to $250.00 and gave the company an "equal weight" rating in a research report on Thursday, July 18th. Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a "buy" rating to a "hold" rating and decreased their price target for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Morgan Stanley raised their target price on Analog Devices from $250.00 to $257.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and a consensus target price of $249.80.

Analog Devices Trading Down 0.4 %

Shares of ADI traded down $0.92 during mid-day trading on Tuesday, reaching $219.55. The company had a trading volume of 2,593,905 shares, compared to its average volume of 3,208,917. Analog Devices, Inc. has a fifty-two week low of $170.10 and a fifty-two week high of $244.14. The firm has a fifty day simple moving average of $226.32 and a 200-day simple moving average of $224.99. 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 $109.00 billion, a price-to-earnings ratio of 66.21, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08.

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

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.68%. Analog Devices's dividend payout ratio (DPR) is presently 110.51%.

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.