Pacer Advisors Inc. Sells 1,089 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Pacer Advisors Inc. decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,001 shares of the semiconductor company’s stock after selling 1,089 shares during the quarter. Pacer Advisors Inc.’s holdings in Analog Devices were worth $15,750,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Analog Devices by 8.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 104,063 shares of the semiconductor company’s stock worth $23,753,000 after acquiring an additional 7,700 shares in the last quarter. AE Wealth Management LLC grew its stake in shares of Analog Devices by 20.9% in the 2nd quarter. AE Wealth Management LLC now owns 19,250 shares of the semiconductor company’s stock worth $4,394,000 after acquiring an additional 3,327 shares in the last quarter. Godshalk Welsh Capital Management Inc. bought a new stake in shares of Analog Devices in the 2nd quarter worth $210,000. Callan Capital LLC grew its stake in shares of Analog Devices by 14.5% in the 2nd quarter. Callan Capital LLC now owns 2,139 shares of the semiconductor company’s stock worth $488,000 after acquiring an additional 271 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Analog Devices by 11.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 84,258 shares of the semiconductor company’s stock worth $19,233,000 after acquiring an additional 8,653 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares in the company, valued at $879,365.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,495 shares of company stock worth $7,181,458. Insiders own 0.31% of the company’s stock.

Analog Devices Trading Down 2.9 %

Shares of Analog Devices stock opened at $226.78 on Monday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The company has a market cap of $112.53 billion, a price-to-earnings ratio of 52.99, a PEG ratio of 3.74 and a beta of 1.07. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $223.80 and its 200-day moving average price is $216.43.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (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 the consensus estimate of $2.27 billion. During the same period in the prior year, the firm posted $2.49 earnings per share. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, equities analysts expect that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial cut their price target on shares of Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Bank of America cut their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $251.45.

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.