Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 83.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,503 shares of the semiconductor company’s stock after selling 12,820 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in Analog Devices were worth $571,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC purchased a new stake in Analog Devices in the 2nd quarter valued at about $29,000. Riverview Trust Co acquired a new position in Analog Devices during the first quarter worth approximately $30,000. ORG Partners LLC raised its stake in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the period. CVA Family Office LLC boosted its holdings 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 purchasing an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Analog Devices during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Barclays raised their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, July 16th. Bank of America reduced their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Stock Performance

Analog Devices stock opened at $223.67 on Wednesday. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. 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 stock has a market cap of $110.99 billion, a P/E ratio of 52.26, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07. The stock has a 50 day moving average of $222.62 and a 200-day moving average of $217.97.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The company 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% compared to the same quarter last year. During the same period last year, the business earned $2.49 EPS. On average, analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,495 shares of company stock worth $11,637,458. 0.31% of the stock is currently owned by corporate insiders.

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.