ProShare Advisors LLC Reduces Stake in Analog Devices, Inc. (NASDAQ:ADI)

ProShare Advisors LLC decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 624,099 shares of the semiconductor company’s stock after selling 43,385 shares during the quarter. ProShare Advisors LLC owned approximately 0.13% of Analog Devices worth $142,457,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. New Millennium Group LLC bought a new position in shares of Analog Devices in the 2nd quarter worth approximately $29,000. Riverview Trust Co bought a new position in Analog Devices in the first quarter worth approximately $30,000. ORG Partners LLC boosted its stake in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares during the last quarter. CVA Family Office LLC grew its position in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Analog Devices in the 2nd quarter worth $37,000. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays boosted their price objective on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. 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 report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Analog Devices Trading Down 2.9 %

ADI stock opened at $226.78 on Friday. The firm has a fifty day moving average price of $223.80 and a 200 day moving average price of $216.26. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The firm has a market cap of $112.53 billion, a PE ratio of 52.99, a price-to-earnings-growth ratio of 3.74 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 (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion during 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 business’s revenue was down 24.8% on a year-over-year basis. During the same period last year, the company posted $2.49 EPS. Sell-side analysts anticipate that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.62%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, August 1st. The shares were 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 of the company’s stock, valued at approximately $11,640,975.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares in the company, valued at $879,365.43. The disclosure for this sale can be found here. Insiders sold 31,495 shares of company stock valued at $7,181,458 in the last ninety days. Insiders own 0.31% of the company’s stock.

About Analog Devices

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.