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

Crestwood Advisors Group LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 32,167 shares of the semiconductor company’s stock after selling 126 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Analog Devices were worth $7,404,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Tidal Investments LLC boosted its stake in Analog Devices by 24.9% during the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after purchasing an additional 6,314 shares during the last quarter. BDF Gestion bought a new position in Analog Devices in the second quarter worth approximately $4,491,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Analog Devices by 3.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock valued at $16,912,000 after buying an additional 2,280 shares in the last quarter. Interval Partners LP purchased a new stake in Analog Devices in the 1st quarter worth approximately $1,978,000. Finally, Cetera Advisors LLC increased its stake in shares of Analog Devices by 59.5% in the first quarter. Cetera Advisors LLC now owns 12,998 shares of the semiconductor company’s stock worth $2,571,000 after purchasing an additional 4,850 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

ADI has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Morgan Stanley upped their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Bank of America lowered their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Insider Buying and Selling at Analog Devices

In related news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,495 shares of company stock worth $22,991,258 in the last three months. 0.31% of the stock is owned by corporate insiders.

Analog Devices Price Performance

Shares of Analog Devices stock traded down $6.38 on Tuesday, reaching $217.81. The company’s stock had a trading volume of 759,382 shares, compared to its average volume of 3,197,905. The stock has a 50-day moving average price of $227.16 and a 200-day moving average price of $223.83. Analog Devices, Inc. has a 52-week low of $165.59 and a 52-week high of $244.14. The company has a market capitalization of $108.14 billion, a P/E ratio of 67.32, a PEG ratio of 3.16 and a beta of 1.08. 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 earnings results 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 analyst estimates of $2.27 billion. During the same quarter in the prior year, the firm earned $2.49 earnings per share. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. 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. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 110.51%.

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.