Forbes J M & Co. LLP Sells 698 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Forbes J M & Co. LLP reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 14.9% during the third quarter, HoldingsChannel reports. The firm owned 4,000 shares of the semiconductor company’s stock after selling 698 shares during the period. Forbes J M & Co. LLP’s holdings in Analog Devices were worth $921,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ADI. Swedbank AB bought a new stake in shares of Analog Devices in the 1st quarter valued at $537,171,000. Vanguard Group Inc. boosted its stake in Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after acquiring an additional 1,753,536 shares in the last quarter. Raymond James & Associates boosted its stake in Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after acquiring an additional 1,422,054 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after acquiring an additional 1,330,242 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Up 0.3 %

Shares of ADI stock traded up $0.62 on Monday, hitting $230.79. The stock had a trading volume of 592,495 shares, compared to its average volume of 3,210,574. The business has a 50 day moving average of $226.85 and a 200 day moving average of $222.29. The stock has a market cap of $114.52 billion, a price-to-earnings ratio of 53.68, a price-to-earnings-growth ratio of 3.87 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, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the company posted $2.49 earnings per share. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. As a group, analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued 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 1.59%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the transaction, the chief executive officer now owns 45,326 shares of the company’s stock, valued at $10,376,481.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,495 shares of company stock worth $20,794,658. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ADI shares. Bank of America cut their target price 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. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Oppenheimer reissued an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices 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.