Royal Fund Management LLC Sells 1,126 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Royal Fund Management LLC cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 15.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,072 shares of the semiconductor company’s stock after selling 1,126 shares during the period. Royal Fund Management LLC’s holdings in Analog Devices were worth $1,412,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. First PREMIER Bank raised its holdings in Analog Devices by 1,412.1% in the 3rd quarter. First PREMIER Bank now owns 499 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 466 shares in the last quarter. True North Advisors LLC acquired a new stake in shares of Analog Devices during the 3rd quarter worth approximately $206,000. Sovereign Financial Group Inc. raised its stake in shares of Analog Devices by 11.3% in the third quarter. Sovereign Financial Group Inc. now owns 1,444 shares of the semiconductor company’s stock valued at $332,000 after purchasing an additional 147 shares in the last quarter. Atomi Financial Group Inc. lifted its position in Analog Devices by 14.1% in the third quarter. Atomi Financial Group Inc. now owns 2,184 shares of the semiconductor company’s stock worth $503,000 after purchasing an additional 270 shares during the period. Finally, Marion Wealth Management lifted its position in Analog Devices by 5.1% in the third quarter. Marion Wealth Management now owns 20,231 shares of the semiconductor company’s stock worth $4,657,000 after purchasing an additional 978 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was 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 directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the sale, the chief executive officer now owns 45,326 shares of the company’s stock, valued at $10,376,481.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,495 shares of company stock worth $20,794,658. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ADI shares. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Barclays increased their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Bank of America lowered their price target on 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, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday. Six investment 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 stock currently has an average rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Trading Up 0.5 %

Analog Devices stock traded up $1.21 during trading hours on Wednesday, reaching $230.61. 90,909 shares of the company’s stock traded hands, compared to its average volume of 3,272,865. The firm has a market capitalization of $114.43 billion, a price-to-earnings ratio of 53.60, a PEG ratio of 3.75 and a beta of 1.07. 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 fifty-two week low of $154.99 and a fifty-two week high of $244.14. The firm’s 50 day moving average is $222.91 and its 200-day moving average is $219.19.

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, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion for 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%. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.49 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.60%. Analog Devices’s dividend payout ratio is presently 85.98%.

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.