Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by United Services Automobile Association

United Services Automobile Association trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.7% during the second quarter, Holdings Channel reports. The firm owned 14,062 shares of the semiconductor company’s stock after selling 847 shares during the quarter. United Services Automobile Association’s holdings in Analog Devices were worth $3,210,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baader Bank Aktiengesellschaft lifted its holdings in Analog Devices by 3.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after acquiring an additional 43 shares during the last quarter. CVA Family Office LLC raised its position in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. SouthState Corp raised its position in shares of Analog Devices by 28.6% during the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 50 shares during the period. Tsfg LLC boosted its position in Analog Devices by 24.5% during the 2nd quarter. Tsfg LLC now owns 269 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 53 shares during the period. Finally, Mcdonald Partners LLC grew its stake in Analog Devices by 0.7% during the 1st quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock worth $1,497,000 after buying an additional 54 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on ADI. Susquehanna raised their target price on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research note on Thursday, May 23rd. TD Cowen boosted their target price on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, July 16th. Finally, UBS Group raised their target price on Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $251.45.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The disclosure for this sale can be found here. Insiders have sold 49,107 shares of company stock worth $11,301,610 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

ADI opened at $218.56 on Tuesday. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The business has a fifty day simple moving average of $225.26 and a 200-day simple moving average of $214.30. The firm has a market cap of $108.45 billion, a PE ratio of 51.07, a P/E/G ratio of 3.55 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 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 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 company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the business earned $2.49 EPS. The company’s revenue was down 24.8% on a year-over-year basis. As a group, equities analysts predict that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. Analog Devices’s payout ratio is presently 85.98%.

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.