M&G Plc Sells 360,104 Shares of Analog Devices, Inc. (NASDAQ:ADI)

M&G PLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 45.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 429,407 shares of the semiconductor company's stock after selling 360,104 shares during the quarter. M&G PLC owned about 0.09% of Analog Devices worth $98,764,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Analog Devices in the 2nd quarter valued at approximately $29,000. ORG Partners LLC lifted its position in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 135 shares in the last quarter. CVA Family Office LLC lifted its position in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Analog Devices during the second quarter worth $37,000. Finally, New Covenant Trust Company N.A. bought a new position in Analog Devices in the first quarter valued at $40,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADI. Cantor Fitzgerald reissued a "neutral" rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Oppenheimer reissued an "outperform" rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Truist Financial lowered Analog Devices from a "buy" rating to a "hold" rating and lowered their price target for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Morgan Stanley upped their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $249.80.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 in the company, valued at $4,921,334.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were 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 directly owns 109,093 shares of the company's stock, valued at $24,447,741.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,495 shares of company stock valued at $25,229,958. 0.31% of the stock is currently owned by insiders.

Analog Devices Price Performance

Shares of Analog Devices stock traded up $1.52 on Thursday, reaching $227.77. 2,433,887 shares of the stock were exchanged, compared to its average volume of 3,210,160. 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 firm has a market cap of $113.09 billion, a PE ratio of 68.40, a P/E/G ratio of 3.16 and a beta of 1.08. The firm's 50 day moving average is $226.85 and its 200-day moving average is $224.09. Analog Devices, Inc. has a one year low of $166.78 and a one year high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the business posted $2.49 EPS. The company's revenue was down 24.8% compared to the same quarter last year. As a group, analysts anticipate 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 paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices's payout ratio is 110.51%.

Analog Devices 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.