Pathway Financial Advisors LLC Cuts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Pathway Financial Advisors LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,747 shares of the semiconductor company’s stock after selling 150 shares during the quarter. Pathway Financial Advisors LLC’s holdings in Analog Devices were worth $402,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ADI. Westwood Holdings Group Inc. purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $290,000. State of Tennessee Treasury Department grew its stake in Analog Devices by 16.4% in the 4th quarter. State of Tennessee Treasury Department now owns 139,077 shares of the semiconductor company’s stock valued at $27,615,000 after acquiring an additional 19,551 shares during the period. Cresset Asset Management LLC grew its stake in Analog Devices by 7.1% in the 4th quarter. Cresset Asset Management LLC now owns 115,361 shares of the semiconductor company’s stock valued at $22,906,000 after acquiring an additional 7,637 shares during the period. Nomura Holdings Inc. acquired a new stake in Analog Devices in the 4th quarter valued at $6,405,000. Finally, Caxton Associates LP acquired a new stake in Analog Devices in the 4th quarter valued at $71,482,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADI has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their price target for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday. Bank of America dropped their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’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 value 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 $11,640,975.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the company’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 value 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 $11,640,975.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at $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 sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Stock Up 1.3 %

Shares of NASDAQ:ADI opened at $229.40 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm has a market capitalization of $113.83 billion, a PE ratio of 53.60, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07. The firm’s 50-day moving average is $222.81 and its two-hundred day moving average is $218.94. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last announced 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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the company posted $2.49 earnings per share. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. Analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 dividend yield of 1.60%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 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.