Dearborn Partners LLC Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Dearborn Partners LLC trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 25.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,191 shares of the semiconductor company's stock after selling 3,156 shares during the quarter. Dearborn Partners LLC's holdings in Analog Devices were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the third quarter valued at approximately $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices during the second quarter valued at about $29,000. ORG Partners LLC increased its position in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 135 shares in the last quarter. CVA Family Office LLC lifted its position in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Analog Devices during the 2nd quarter worth approximately $37,000. Institutional investors own 86.81% of the company's stock.

Insider Transactions at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now owns 3,753 shares in the company, valued at $879,365.43. This represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent analyst reports. Truist Financial lowered shares of Analog Devices from a "buy" rating to a "hold" rating and reduced their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Barclays increased 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. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Oppenheimer reaffirmed an "outperform" rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Morgan Stanley increased their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $249.80.

Analog Devices Stock Performance

Shares of ADI stock traded down $6.12 during trading hours on Friday, reaching $206.12. 1,884,723 shares of the company traded hands, compared to its average volume of 3,209,292. The company has a market cap of $102.34 billion, a P/E ratio of 63.09, a P/E/G ratio of 2.98 and a beta of 1.08. Analog Devices, Inc. has a 12-month low of $178.66 and a 12-month high of $244.14. The firm has a 50-day moving average price of $226.02 and a 200 day moving average price of $224.94. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

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, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company's quarterly 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. As a group, sell-side analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices's dividend payout ratio (DPR) is 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.