Quest Partners LLC Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Quest Partners LLC purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 912 shares of the semiconductor company’s stock, valued at approximately $210,000.

Other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the 3rd quarter valued at about $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the 2nd quarter valued at about $29,000. Archer Investment Corp lifted its holdings in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of 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 buying an additional 135 shares during the last quarter. Finally, CVA Family Office LLC raised its stake in shares of Analog Devices by 40.2% in the 2nd 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 in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $217.17 on Thursday. The business’s fifty day moving average price is $224.64 and its two-hundred day moving average price is $225.86. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The stock has a market capitalization of $107.82 billion, a price-to-earnings ratio of 65.22, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 110.51%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ADI. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday. Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley cut their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $249.33.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on 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 approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,000 shares of company stock worth $24,883,200. Insiders own 0.31% of the company’s stock.

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.