Beaton Management Co. Inc. Trims Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Beaton Management Co. Inc. lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 71.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 812 shares of the semiconductor company’s stock after selling 1,994 shares during the period. Beaton Management Co. Inc.’s holdings in Analog Devices were worth $185,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. New Millennium Group LLC purchased a new stake in Analog Devices during the second quarter valued at about $29,000. Riverview Trust Co purchased a new position in shares of Analog Devices during the 1st quarter valued at about $30,000. ORG Partners LLC lifted its position in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares during the last quarter. CVA Family Office LLC boosted its stake in Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Analog Devices in the 2nd quarter valued at $37,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Up 4.9 %

Shares of NASDAQ:ADI opened at $233.45 on Friday. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The stock’s fifty day moving average price is $224.03 and its 200-day moving average price is $215.85. The company has a market cap of $115.84 billion, a P/E ratio of 54.54, a PEG ratio of 3.74 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the company posted $2.49 earnings per share. Sell-side analysts expect that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 payout ratio is presently 85.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. KeyCorp increased their target price on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Susquehanna increased their price objective on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. Robert W. Baird boosted their target price on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. JPMorgan Chase & Co. raised their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Truist Financial reduced their price objective on shares of Analog Devices from $275.00 to $266.00 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 seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $251.45.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,570,541.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The disclosure for this sale can be found here. Insiders have sold 31,495 shares of company stock worth $7,181,458 in the last 90 days. 0.31% of the stock is currently owned by 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.