United Services Automobile Association Has $2.66 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

United Services Automobile Association decreased its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 17.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,562 shares of the semiconductor company's stock after selling 2,500 shares during the quarter. United Services Automobile Association's holdings in Analog Devices were worth $2,661,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ADI. Charles Schwab Investment Management Inc. grew its holdings in shares of Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock valued at $623,399,000 after buying an additional 39,186 shares during the period. Swiss National Bank grew its stake in Analog Devices by 0.3% in the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company's stock valued at $339,012,000 after acquiring an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd grew its stake in Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock valued at $5,264,000 after acquiring an additional 7,386 shares during the period. Summit Global Investments bought a new stake in shares of Analog Devices in the third quarter worth about $867,000. Finally, Versor Investments LP acquired a new stake in shares of Analog Devices during the third quarter worth about $952,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares of the company's stock, valued at $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 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 $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company's stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,000 shares of company stock worth $22,596,300. Company insiders own 0.31% of the company's stock.

Analog Devices Stock Performance

Shares of ADI stock 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 3,278,270. Analog Devices, Inc. has a 12 month low of $180.37 and a 12 month high of $244.14. The firm has a market capitalization of $108.29 billion, a price-to-earnings ratio of 66.32, a P/E/G ratio of 2.48 and a beta of 1.05. The firm's 50-day moving average is $223.17 and its two-hundred day moving average is $225.99. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $2.01 earnings per share. The business's revenue was down 10.1% compared to the same quarter last year. On average, research analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.69%. Analog Devices's dividend payout ratio (DPR) is currently 111.85%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Wednesday, November 27th. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a report on Wednesday, November 27th. Bank of America dropped 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. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Finally, Oppenheimer reissued an "outperform" rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $249.33.

About Analog Devices

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.