ING Groep NV Sells 162,304 Shares of Analog Devices, Inc. (NASDAQ:ADI)

ING Groep NV trimmed its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 53.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 141,026 shares of the semiconductor company's stock after selling 162,304 shares during the quarter. ING Groep NV's holdings in Analog Devices were worth $32,460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the 3rd quarter valued at about $28,000. New Millennium Group LLC bought a new stake in shares of Analog Devices in the 2nd quarter valued at about $29,000. ORG Partners LLC raised its holdings 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 period. CVA Family Office LLC raised its holdings in shares of 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 purchasing an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Analog Devices in the 2nd quarter valued at about $37,000. 86.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut shares of Analog Devices from a "buy" rating to a "hold" rating and dropped their target price for the company from $266.00 to $233.00 in a report on Monday, September 23rd. 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 report on Thursday, August 22nd. Barclays increased their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, July 18th. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $249.80.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the firm's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company's stock, valued at $11,672,108.91. The trade was a 16.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,495 shares of company stock valued at $25,229,958 in the last quarter. Insiders own 0.31% of the company's stock.

Analog Devices Price Performance

Shares of NASDAQ ADI traded down $0.60 during trading hours on Thursday, hitting $212.24. 3,209,385 shares of the stock were exchanged, compared to its average volume of 3,215,282. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The company has a market cap of $105.38 billion, a PE ratio of 63.92, a price-to-earnings-growth ratio of 3.08 and a beta of 1.08. The company's fifty day simple moving average is $226.16 and its two-hundred day simple moving average is $225.02. Analog Devices, Inc. has a 1-year low of $178.66 and a 1-year high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $2.31 billion during 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 firm's revenue was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.49 EPS. On average, sell-side analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices's payout ratio is 110.51%.

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.