Oak Harvest Investment Services Sells 11,535 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Oak Harvest Investment Services decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 26.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,335 shares of the semiconductor company’s stock after selling 11,535 shares during the quarter. Oak Harvest Investment Services’ holdings in Analog Devices were worth $7,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. New Millennium Group LLC acquired a new position in shares of Analog Devices during the 2nd quarter worth approximately $29,000. ORG Partners LLC increased 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 during the last quarter. CVA Family Office LLC raised its position in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Analog Devices during the 2nd quarter worth about $37,000. Finally, New Covenant Trust Company N.A. acquired a new position in Analog Devices in the 1st quarter valued at about $40,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Trading Down 2.2 %

Shares of ADI stock opened at $230.12 on Thursday. Analog Devices, Inc. has a 1-year low of $155.16 and a 1-year 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 stock has a market cap of $114.25 billion, a price-to-earnings ratio of 69.11, a PEG ratio of 3.87 and a beta of 1.07. The stock has a 50-day moving average of $227.22 and a 200-day moving average of $222.87.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 1.60%. Analog Devices’s payout ratio is currently 110.51%.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were 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 in the company, valued at $10,376,481.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 45,326 shares of the company’s stock, valued at $10,376,481.18. This 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, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on 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 directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,495 shares of company stock worth $18,513,858. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of several research reports. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report 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 research report on Thursday, August 22nd. Barclays boosted their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, Truist Financial downgraded 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 report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average 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.