Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 9.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,072 shares of the semiconductor company’s stock after selling 446 shares during the quarter. NorthRock Partners LLC’s holdings in Analog Devices were worth $937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. New Millennium Group LLC purchased a new stake in Analog Devices in the 2nd quarter valued at approximately $29,000. ORG Partners LLC raised its holdings 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 acquiring an additional 135 shares during the last quarter. CVA Family Office LLC boosted its stake in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Analog Devices during the 2nd quarter worth about $37,000. Finally, New Covenant Trust Company N.A. acquired a new position in Analog Devices in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,672,108.91. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,495 shares of company stock valued at $22,991,258. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADI. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Bank of America lowered their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Barclays raised their price target on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Finally, Oppenheimer restated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Six 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Stock Down 2.8 %

Shares of ADI traded down $6.38 during mid-day trading on Tuesday, reaching $217.81. 759,382 shares of the stock traded hands, compared to its average volume of 3,197,905. The firm has a market cap of $108.14 billion, a price-to-earnings ratio of 67.32, a P/E/G ratio of 3.16 and a beta of 1.08. The stock has a fifty day simple moving average of $227.16 and a 200 day simple moving average of $223.83. 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 12-month low of $165.59 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the business posted $2.49 EPS. The firm’s revenue was down 24.8% compared to the same quarter last year. Sell-side analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 110.51%.

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.