Credit Agricole S A Trims Position in Analog Devices, Inc. $ADI

Credit Agricole S A cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 344,321 shares of the semiconductor company’s stock after selling 25,008 shares during the quarter. Credit Agricole S A owned 0.07% of Analog Devices worth $69,439,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ADI. Orion Capital Management LLC purchased a new position in Analog Devices during the 4th quarter worth approximately $27,000. Menard Financial Group LLC purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $27,000. Alpine Bank Wealth Management purchased a new position in shares of Analog Devices during the 1st quarter valued at approximately $27,000. N.E.W. Advisory Services LLC purchased a new position in shares of Analog Devices during the 1st quarter valued at approximately $33,000. Finally, North Capital Inc. purchased a new position in shares of Analog Devices during the 1st quarter valued at approximately $36,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the sale, the director directly owned 167,571 shares in the company, valued at approximately $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADI shares. Cfra Research lowered shares of Analog Devices from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, May 22nd. Raymond James Financial raised shares of Analog Devices from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, June 18th. Piper Sandler cut their target price on shares of Analog Devices from $240.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. TD Cowen lifted their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Finally, Evercore ISI upped their price objective on shares of Analog Devices from $231.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $258.89.

Analog Devices Stock Down 0.0%

Shares of NASDAQ ADI opened at $231.55 on Tuesday. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.73. The stock has a market cap of $114.91 billion, a PE ratio of 63.09, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $233.77 and a 200 day moving average of $216.45.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The company’s revenue was up 22.3% compared to the same quarter last year. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is presently 107.90%.

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.