3,766 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by Summit Global Investments

Summit Global Investments acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,766 shares of the semiconductor company's stock, valued at approximately $867,000.

Several other large investors have also bought and sold shares of ADI. Baader Bank Aktiengesellschaft boosted its stake in shares of Analog Devices by 3.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company's stock valued at $259,000 after purchasing an additional 43 shares during the last quarter. Grove Bank & Trust grew its stake in shares of Analog Devices by 3.1% in the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company's stock valued at $333,000 after buying an additional 43 shares during the period. CVA Family Office LLC increased 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 buying an additional 45 shares in the last quarter. Legacy Financial Advisors Inc. boosted its holdings in Analog Devices by 1.4% in the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company's stock worth $795,000 after acquiring an additional 48 shares in the last quarter. Finally, Quotient Wealth Partners LLC grew its stake in Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company's stock valued at $455,000 after acquiring an additional 48 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In related 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 transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company's stock, valued at approximately $879,365.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Edward H. Frank sold 995 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company's stock, valued at approximately $879,365.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the sale, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 over the last 90 days. 0.31% of the stock is owned by insiders.

Analog Devices Stock Performance

NASDAQ ADI traded down $1.97 during trading on Friday, hitting $225.80. 3,426,964 shares of the company's stock traded hands, compared to its average volume of 2,521,661. The business has a 50 day moving average of $226.61 and a 200-day moving average of $224.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a 12-month low of $166.78 and a 12-month high of $244.14. The stock has a market capitalization of $112.11 billion, a price-to-earnings ratio of 67.81, a PEG ratio of 3.17 and a beta of 1.08.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.49 EPS. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.63%. Analog Devices's dividend payout ratio is presently 110.51%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ADI shares. Bank of America lowered their price objective on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Oppenheimer reiterated an "outperform" rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Truist Financial lowered Analog Devices from a "buy" rating to a "hold" rating and lowered their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, Analog Devices has an average rating of "Moderate Buy" and an average target price of $249.80.

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.