Synovus Financial Corp Sells 640 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Synovus Financial Corp lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,643 shares of the semiconductor company’s stock after selling 640 shares during the period. Synovus Financial Corp’s holdings in Analog Devices were worth $4,061,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ADI. ORG Partners LLC lifted its stake 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 during the last quarter. TCW Group Inc. bought a new stake in shares of Analog Devices in the 2nd quarter valued at about $3,183,000. Raymond James & Associates boosted its holdings in Analog Devices by 8.8% during the 2nd quarter. Raymond James & Associates now owns 926,050 shares of the semiconductor company’s stock valued at $211,380,000 after acquiring an additional 74,786 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Analog Devices by 9.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 41,957 shares of the semiconductor company’s stock worth $9,577,000 after acquiring an additional 3,544 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Analog Devices by 1.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 182,045 shares of the semiconductor company’s stock worth $41,554,000 after purchasing an additional 2,084 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Down 0.5 %

NASDAQ:ADI opened at $216.61 on Friday. The firm has a market capitalization of $107.50 billion, a P/E ratio of 65.84, a PEG ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a one year low of $181.80 and a one year high of $244.14. The company’s 50-day simple moving average is $222.16 and its 200 day simple moving average is $225.48.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the firm posted $2.01 EPS. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, analysts forecast that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Wall Street Analyst Weigh In

ADI has been the subject of a number of analyst reports. TD Cowen dropped their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Bank of America decreased their price objective 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. Oppenheimer reiterated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Morgan Stanley reduced their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.33.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now owns 79,093 shares in the company, valued at $18,106,760.49. The trade was a 27.50 % decrease in their ownership of the stock. The transaction 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 on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $24,754,600 in the last quarter. 0.31% of the stock is owned by insiders.

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.