Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,561 shares of the semiconductor company’s stock after selling 462 shares during the quarter. Analog Devices comprises 1.5% of Mattern Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Mattern Capital Management LLC’s holdings in Analog Devices were worth $11,638,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in 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 valued at $259,000 after acquiring an additional 43 shares during the last quarter. Grove Bank & Trust lifted its stake in shares of Analog Devices by 3.1% in the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after purchasing an additional 43 shares during the last quarter. CVA Family Office LLC grew its holdings 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. Legacy Financial Advisors Inc. increased its position in shares of Analog Devices by 1.4% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 48 shares during the last quarter. Finally, Quotient Wealth Partners LLC raised its holdings in Analog Devices by 2.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of several research analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Barclays lifted their price objective on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Stock Up 0.2 %

Shares of NASDAQ:ADI opened at $230.17 on Friday. 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 stock has a market cap of $114.21 billion, a P/E ratio of 53.78, a P/E/G ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The firm has a fifty day moving average price of $226.85 and a 200 day moving average price of $222.11.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate 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 firm earned $2.49 earnings per share. Sell-side analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

Insider Buying and Selling

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the company’s 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,495 shares of company stock valued at $20,794,658 over the last three months. 0.31% of the stock is currently owned by company insiders.

Analog Devices Company 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.