Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Cantillon Capital Management LLC

Cantillon Capital Management LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 23.3% during the third quarter, Holdings Channel reports. The firm owned 2,297,122 shares of the semiconductor company’s stock after selling 696,330 shares during the quarter. Analog Devices makes up approximately 3.2% of Cantillon Capital Management LLC’s portfolio, making the stock its 11th largest holding. Cantillon Capital Management LLC’s holdings in Analog Devices were worth $528,729,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ADI. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the third quarter valued at approximately $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices in the 2nd quarter valued at $29,000. Archer Investment Corp lifted its holdings in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the period. ORG Partners LLC raised its position in Analog Devices by 675.0% in 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 in the last quarter. Finally, CVA Family Office LLC grew its stake 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 valued at $36,000 after purchasing an additional 45 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADI has been the subject of a number of recent analyst reports. Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price objective for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Stock Up 1.6 %

Shares of ADI opened at $209.65 on Tuesday. The stock’s 50-day moving average price is $225.70 and its two-hundred day moving average price is $225.44. Analog Devices, Inc. has a 12 month low of $179.44 and a 12 month high of $244.14. The company has a market capitalization of $104.09 billion, a PE ratio of 62.96, a PEG ratio of 2.89 and a beta of 1.08. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the business posted $2.49 earnings per share. The firm’s revenue was down 24.8% on a year-over-year basis. On average, analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,495 shares of company stock valued at $25,229,958 over the last quarter. Insiders own 0.31% of the company’s stock.

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.