Lifeworks Advisors LLC Sells 1,199 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Lifeworks Advisors LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 38.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,949 shares of the semiconductor company’s stock after selling 1,199 shares during the quarter. Lifeworks Advisors LLC’s holdings in Analog Devices were worth $449,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices in the third quarter worth about $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices in the second quarter worth about $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 worth $35,000 after buying an additional 135 shares during the period. CVA Family Office LLC increased its holdings 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 worth $36,000 after buying an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Analog Devices in the second quarter worth about $37,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 0.3 %

ADI stock opened at $212.24 on Friday. Analog Devices, Inc. has a twelve month low of $178.66 and a twelve month high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a market cap of $105.38 billion, a PE ratio of 63.74, a price-to-earnings-growth ratio of 3.08 and a beta of 1.08. The business has a 50 day moving average of $226.16 and a 200 day moving average of $225.02.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data 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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the company earned $2.49 EPS. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, research analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on 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 directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,495 shares of company stock valued at $25,229,958 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ADI shares. Morgan Stanley lifted their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Barclays boosted their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.