GLOBALT Investments LLC GA Buys 7,498 Shares of Analog Devices, Inc. (NASDAQ:ADI)

GLOBALT Investments LLC GA increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 30.5% during the third quarter, Holdings Channel.com reports. The firm owned 32,094 shares of the semiconductor company’s stock after purchasing an additional 7,498 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Analog Devices were worth $7,387,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in Analog Devices in the 3rd quarter worth $210,000. Swiss National Bank increased its stake in Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after buying an additional 4,600 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Analog Devices by 2.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 25,336 shares of the semiconductor company’s stock worth $5,832,000 after buying an additional 582 shares in the last quarter. Claro Advisors LLC increased its stake in Analog Devices by 14.7% in the 3rd quarter. Claro Advisors LLC now owns 6,727 shares of the semiconductor company’s stock worth $1,548,000 after buying an additional 861 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in Analog Devices in the 3rd quarter worth $43,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Down 2.8 %

Shares of NASDAQ ADI opened at $206.35 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The company has a market capitalization of $102.45 billion, a PE ratio of 61.97, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08. The firm’s 50-day moving average is $225.88 and its two-hundred day moving average is $225.34. Analog Devices, Inc. has a 12-month low of $178.66 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping 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 analyst estimates of $2.27 billion. During the same quarter in the prior year, the business posted $2.49 earnings per share. Analog Devices’s revenue for the quarter was down 24.8% compared to the same quarter last year. Equities analysts anticipate 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. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.78%. Analog Devices’s dividend payout ratio (DPR) is 110.51%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ADI shares. Bank of America cut their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial downgraded 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 research report on Monday, September 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. This represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is currently 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.