Goelzer Investment Management Inc. Trims Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Goelzer Investment Management Inc. cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,224 shares of the semiconductor company’s stock after selling 1,162 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Analog Devices were worth $10,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Analog Devices

In related news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,495 shares of company stock worth $20,794,658. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ADI shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research report on Tuesday, July 16th. Bank of America dropped their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and decreased their price target for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Oppenheimer restated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $1.67 during trading on Friday, reaching $228.23. 1,895,235 shares of the company traded hands, compared to its average volume of 3,302,632. The firm has a 50 day simple moving average of $222.83 and a 200-day simple moving average of $218.35. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The stock has a market capitalization of $113.25 billion, a PE ratio of 53.32, a P/E/G ratio of 3.75 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results 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 firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 EPS. Equities research analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently announced 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 1.61%. Analog Devices’s dividend payout ratio is currently 85.98%.

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.