Alpha Cubed Investments LLC Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Alpha Cubed Investments LLC reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,621 shares of the semiconductor company’s stock after selling 61 shares during the period. Alpha Cubed Investments LLC’s holdings in Analog Devices were worth $373,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ADI. Vanguard Group Inc. increased its holdings in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares in the last quarter. Capital International Investors raised its position in shares of Analog Devices by 14.3% during the 1st quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after purchasing an additional 644,945 shares during the last quarter. American Century Companies Inc. lifted its stake in Analog Devices by 21.4% in the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after buying an additional 767,534 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Analog Devices by 5.3% in the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after buying an additional 211,202 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on ADI. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday. Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Bank of America lowered 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. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Activity at Analog Devices

In other Analog Devices 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 sale, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now owns 3,753 shares in the company, valued at $879,365.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,495 shares of company stock worth $20,794,658 in the last three months. 0.31% of the stock is owned by company insiders.

Analog Devices Stock Up 1.3 %

Shares of NASDAQ:ADI opened at $229.40 on Wednesday. The company has a market capitalization of $113.83 billion, a price-to-earnings ratio of 53.60, a PEG ratio of 3.75 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The business has a 50-day moving average price of $222.81 and a 200 day moving average price of $218.94. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.49 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The company 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. This represents a $3.68 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, September 3rd. 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.