McCollum Christoferson Group LLC Sells 113 Shares of Analog Devices, Inc. (NASDAQ:ADI)

McCollum Christoferson Group LLC decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 39,204 shares of the semiconductor company’s stock after selling 113 shares during the quarter. Analog Devices accounts for about 2.6% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 15th biggest position. McCollum Christoferson Group LLC’s holdings in Analog Devices were worth $9,024,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ADI. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the 2nd quarter valued at about $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices during the 1st quarter valued at about $30,000. ORG Partners LLC boosted its position in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. CVA Family Office LLC boosted 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 valued at $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Analog Devices in the second quarter valued at about $37,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the transaction, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the transaction, the chief executive officer now owns 45,326 shares of the company’s stock, valued at $10,376,481.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,495 shares of company stock worth $20,794,658 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on ADI shares. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Morgan Stanley boosted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America reduced their price target 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Stock Up 0.7 %

Analog Devices stock opened at $227.49 on Thursday. The stock has a market capitalization of $112.88 billion, a PE ratio of 53.15, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a twelve month low of $154.99 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 company has a 50 day moving average of $225.34 and a 200-day moving average of $220.58.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.49 earnings per share. On average, equities research analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

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.