ASB Consultores LLC Cuts Stake in Analog Devices, Inc. (NASDAQ:ADI)

ASB Consultores LLC cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 32.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,360 shares of the semiconductor company’s stock after selling 1,155 shares during the period. ASB Consultores LLC’s holdings in Analog Devices were worth $539,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. 9258 Wealth Management LLC raised its holdings in Analog Devices by 3.9% during the 4th quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock valued at $444,000 after buying an additional 85 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its stake in shares of Analog Devices by 17.1% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 1,564 shares of the semiconductor company’s stock valued at $311,000 after purchasing an additional 228 shares in the last quarter. D.A. Davidson & CO. raised its stake in Analog Devices by 2.2% in the fourth quarter. D.A. Davidson & CO. now owns 6,860 shares of the semiconductor company’s stock worth $1,362,000 after buying an additional 146 shares in the last quarter. InterOcean Capital Group LLC boosted its position in Analog Devices by 2.9% during the 4th quarter. InterOcean Capital Group LLC now owns 3,067 shares of the semiconductor company’s stock valued at $609,000 after acquiring an additional 85 shares in the last quarter. Finally, Enterprise Financial Services Corp purchased a new position in shares of Analog Devices during the 4th quarter worth approximately $205,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $233.45 on Friday. The company has a market cap of $115.84 billion, a P/E ratio of 54.54, a P/E/G ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The firm’s fifty day moving average is $224.03 and its two-hundred day moving average is $215.85.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the firm posted $2.49 earnings per share. Analog Devices’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.58%. Analog Devices’s dividend payout ratio is currently 85.98%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Truist Financial lowered their target price 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. Citigroup increased their price target on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. The Goldman Sachs Group boosted their target price on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Bank of America cut their price objective 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 issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.45.

Insiders Place Their Bets

In other news, Director Edward H. Frank sold 500 shares of the stock in a transaction 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 sale, the director now owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. The disclosure for this sale can be found here. Insiders have sold 31,495 shares of company stock valued at $7,181,458 over the last ninety days. 0.31% of the stock is owned by insiders.

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.