Thrive Wealth Management LLC Sells 67 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Thrive Wealth Management LLC decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 974 shares of the semiconductor company’s stock after selling 67 shares during the quarter. Thrive Wealth Management LLC’s holdings in Analog Devices were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ADI. New Millennium Group LLC bought a new stake in Analog Devices during the 2nd quarter valued at $29,000. Riverview Trust Co bought a new position in Analog Devices in the 1st quarter valued at about $30,000. ORG Partners LLC lifted its holdings in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. CVA Family Office LLC boosted its position in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Analog Devices during the second quarter worth $37,000. Institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Oppenheimer reissued an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays raised their target price on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Price Performance

Shares of ADI stock traded up $1.67 during trading hours on Friday, reaching $228.23. The stock had a trading volume of 1,895,235 shares, compared to its average volume of 3,302,632. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $113.25 billion, a PE ratio of 53.32, a PEG ratio of 3.75 and a beta of 1.07. The stock’s fifty day simple moving average is $222.83 and its 200 day simple moving average is $218.35.

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 the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the firm earned $2.49 earnings per share. Analog Devices’s revenue was down 24.8% on a year-over-year basis. On average, equities research analysts predict that Analog Devices, Inc. will post 6.34 EPS 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 dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. 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 ninety days, insiders have sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is currently owned by corporate insiders.

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.