Hemenway Trust Co LLC Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Hemenway Trust Co LLC trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 186,464 shares of the semiconductor company's stock after selling 3,919 shares during the period. Analog Devices accounts for about 3.4% of Hemenway Trust Co LLC's investment portfolio, making the stock its 9th largest position. Hemenway Trust Co LLC's holdings in Analog Devices were worth $42,919,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in ADI. Vanguard Group Inc. increased its holdings in Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company's stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company's stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Capital International Investors increased its stake in shares of Analog Devices by 14.3% during the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company's stock worth $1,019,726,000 after purchasing an additional 644,945 shares during the period. Van ECK Associates Corp grew its position in Analog Devices by 17.3% during the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company's stock worth $1,078,617,000 after buying an additional 700,862 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Analog Devices by 21.4% during the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company's stock worth $993,293,000 after buying an additional 767,534 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Down 0.4 %

Shares of NASDAQ ADI traded down $0.92 during trading on Tuesday, reaching $219.55. 2,593,905 shares of the stock were exchanged, compared to its average volume of 3,208,917. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The business's 50-day moving average price is $226.32 and its 200 day moving average price is $224.99. The company has a market capitalization 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, Inc. has a twelve month low of $170.10 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm's revenue for the quarter 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, equities analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

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

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares of the company's stock, valued at $24,447,741.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,495 shares of company stock valued at $25,229,958 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ADI has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Truist Financial lowered Analog Devices from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Barclays upped their target price on Analog Devices from $235.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, July 18th. Oppenheimer reissued an "outperform" rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Bank of America dropped their target price on Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $249.80.

Analog Devices Company 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.