Kovitz Investment Group Partners LLC trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 21.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 394,176 shares of the semiconductor company's stock after selling 109,328 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.08% of Analog Devices worth $89,247,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices in the 3rd quarter valued at approximately $28,000. New Millennium Group LLC purchased a new position in Analog Devices in the 2nd quarter valued at $29,000. Archer Investment Corp increased its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after buying an additional 73 shares during the period. ORG Partners LLC raised its position in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock worth $35,000 after buying an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Analog Devices in the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 86.81% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Wednesday, November 27th. Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their target price on Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Seven equities 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 stock has an average rating of "Moderate Buy" and a consensus price target of $249.33.
Get Our Latest Report on Analog Devices
Insiders Place Their Bets
In other news, EVP Gregory M. Bryant sold 30,000 shares of the company's stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 21.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,000 shares of company stock valued at $22,596,300. Insiders own 0.31% of the company's stock.
Analog Devices Trading Up 1.7 %
NASDAQ:ADI traded up $3.65 on Friday, reaching $218.20. The stock had a trading volume of 3,189,366 shares, compared to its average volume of 3,229,616. The company has a market cap of $108.29 billion, a price-to-earnings ratio of 66.32, a P/E/G ratio of 2.52 and a beta of 1.05. Analog Devices, Inc. has a 12-month low of $180.37 and a 12-month high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The firm's fifty day moving average is $223.45 and its two-hundred day moving average is $226.02.
Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices's revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.01 earnings per share. Equities analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.
Analog Devices Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be paid a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.69%. Analog Devices's payout ratio is currently 111.85%.
About Analog Devices
(
Free Report)
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.
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