Vestmark Advisory Solutions Inc. cut its position in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 24.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,988 shares of the semiconductor company’s stock after selling 1,598 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Analog Devices were worth $1,187,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADI. Activest Wealth Management lifted its holdings in shares of Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 127 shares in the last quarter. RMG Wealth Management LLC bought a new position in Analog Devices during the second quarter worth about $26,000. N.E.W. Advisory Services LLC acquired a new stake in Analog Devices in the 1st quarter worth about $33,000. Saudi Central Bank bought a new stake in Analog Devices in the 1st quarter valued at about $39,000. Finally, Nova Wealth Management Inc. acquired a new position in shares of Analog Devices during the 1st quarter worth approximately $42,000. 86.81% of the stock is owned by institutional investors and hedge funds.
Analog Devices Stock Performance
NASDAQ:ADI opened at $232.00 on Tuesday. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $258.13. The company has a quick ratio of 1.79, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. The stock’s 50-day simple moving average is $241.32 and its 200 day simple moving average is $232.68. The firm has a market capitalization of $114.13 billion, a PE ratio of 59.18, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09.
Analog Devices Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a $0.99 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $3.96 dividend on an annualized basis and a yield of 1.7%. Analog Devices’s dividend payout ratio (DPR) is currently 101.02%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on ADI. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. BNP Paribas initiated coverage on Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. Wells Fargo & Company upped their target price on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, August 21st. Stifel Nicolaus raised their price target on Analog Devices from $248.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Morgan Stanley boosted their price target on Analog Devices from $273.00 to $288.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $277.89.
Read Our Latest Analysis on Analog Devices
Insider Transactions at Analog Devices
In related news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the sale, the director owned 142,571 shares of the company’s stock, valued at $32,821,269.91. This trade represents a 2.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Katsufumi Nakamura sold 2,490 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $248.03, for a total value of $617,594.70. Following the sale, the senior vice president owned 13,549 shares in the company, valued at $3,360,558.47. This represents a 15.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 62,240 shares of company stock valued at $15,301,891. Corporate insiders own 0.33% of the company’s stock.
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.
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