Intech Investment Management LLC Trims Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Intech Investment Management LLC decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 32.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,754 shares of the semiconductor company’s stock after selling 6,961 shares during the quarter. Intech Investment Management LLC’s holdings in Analog Devices were worth $3,368,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ADI. New Millennium Group LLC acquired a new stake in Analog Devices during the second quarter worth $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices in the first quarter valued at $30,000. ORG Partners LLC grew its stake 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 valued at $35,000 after buying an additional 135 shares in the last quarter. CVA Family Office LLC grew its stake in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Analog Devices in the second quarter valued at $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ADI shares. Truist Financial dropped their price objective on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley lifted their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Barclays lifted their target price on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, Bank of America decreased their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $251.45.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $11,672,108.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The disclosure for this sale can be found here. In the last three months, insiders sold 31,495 shares of company stock valued at $7,181,458. 0.31% of the stock is owned by corporate insiders.

Analog Devices Trading Down 2.9 %

Analog Devices stock opened at $226.78 on Monday. The company has a 50 day moving average price of $223.80 and a 200 day moving average price of $216.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The firm has a market capitalization of $112.53 billion, a price-to-earnings ratio of 52.99, a P/E/G ratio of 3.74 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.49 earnings per share. Research analysts forecast that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.62%. Analog Devices’s payout ratio is 85.98%.

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.