Victory Capital Management Inc. Sells 18,166 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Victory Capital Management Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 589,182 shares of the semiconductor company's stock after selling 18,166 shares during the quarter. Victory Capital Management Inc. owned approximately 0.12% of Analog Devices worth $135,612,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the third quarter valued at approximately $28,000. New Millennium Group LLC bought a new stake in Analog Devices during the 2nd quarter valued at $29,000. ORG Partners LLC raised its stake in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. CVA Family Office LLC boosted its position in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices during the second quarter valued at $37,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Down 3.1 %

Shares of ADI traded down $6.71 during mid-day trading on Wednesday, reaching $212.84. The company's stock had a trading volume of 4,609,786 shares, compared to its average volume of 3,215,290. The company has a market cap of $105.67 billion, a price-to-earnings ratio of 63.92, a price-to-earnings-growth ratio of 3.08 and a beta of 1.08. The business has a fifty day moving average of $226.34 and a 200 day moving average of $225.11. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $175.00 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business's revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.49 EPS. As a group, analysts forecast 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. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices's dividend payout ratio is currently 110.51%.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company's stock, valued at $13,229,149.91. 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 available at this hyperlink. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction 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 transaction, 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 ownership of the stock. The transaction 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 the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company's stock, valued at $13,229,149.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,495 shares of company stock valued at $25,229,958. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on ADI. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research note on Thursday, August 22nd. Oppenheimer restated an "outperform" rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Morgan Stanley lifted their price target on Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. Finally, Truist Financial lowered Analog Devices from a "buy" rating to a "hold" rating and cut their price objective for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $249.80.

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.