Verity & Verity LLC Invests $285,000 in Analog Devices, Inc. (NASDAQ:ADI)

Verity & Verity LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,237 shares of the semiconductor company’s stock, valued at approximately $285,000.

Several other hedge funds have also added to or reduced their stakes in the company. Pathstone Holdings LLC lifted its holdings in shares of Analog Devices by 1.5% during the third quarter. Pathstone Holdings LLC now owns 71,981 shares of the semiconductor company’s stock worth $16,568,000 after buying an additional 1,050 shares in the last quarter. GLOBALT Investments LLC GA raised its stake in Analog Devices by 30.5% in the 3rd quarter. GLOBALT Investments LLC GA now owns 32,094 shares of the semiconductor company’s stock worth $7,387,000 after purchasing an additional 7,498 shares in the last quarter. Quest Partners LLC bought a new stake in Analog Devices in the 3rd quarter valued at about $210,000. Swiss National Bank grew its position in shares of Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Analog Devices by 2.4% during the third quarter. Thrivent Financial for Lutherans now owns 25,336 shares of the semiconductor company’s stock worth $5,832,000 after purchasing an additional 582 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Analog Devices stock opened at $209.65 on Tuesday. The business has a 50 day moving average of $225.70 and a 200-day moving average of $225.44. 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 1 year low of $179.44 and a 1 year high of $244.14. The company has a market capitalization of $104.09 billion, a P/E ratio of 62.96, a P/E/G ratio of 2.89 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm 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 firm earned $2.49 earnings per share. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, equities research analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.76%. Analog Devices’s payout ratio is 110.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ADI shares. Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their target price for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 21.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 over the last ninety days. 0.31% of the stock is owned by company insiders.

About Analog Devices

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.