SRN Advisors LLC Sells 189 Shares of Analog Devices, Inc. (NASDAQ:ADI)

SRN Advisors LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,736 shares of the semiconductor company’s stock after selling 189 shares during the quarter. SRN Advisors LLC’s holdings in Analog Devices were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ADI. New Millennium Group LLC bought a new position in Analog Devices in the second quarter valued at about $29,000. ORG Partners LLC grew 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 worth $35,000 after buying an additional 135 shares during the period. CVA Family Office LLC raised its stake in shares of Analog Devices by 40.2% during 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 last quarter. Hobbs Group Advisors LLC acquired a new position in Analog Devices in the second quarter valued at approximately $37,000. Finally, Trifecta Capital Advisors LLC boosted its stake in Analog Devices by 544.8% in the second quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 158 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now directly owns 79,093 shares in the company, valued at $18,106,760.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the transaction, the executive vice president now owns 79,093 shares of the company’s stock, valued at $18,106,760.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ADI shares. Bank of America cut 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Morgan Stanley lifted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Stock Up 0.2 %

Shares of Analog Devices stock opened at $230.17 on Friday. The firm has a market cap of $114.21 billion, a PE ratio of 53.78, a P/E/G ratio of 3.87 and a beta of 1.07. The business’s 50 day simple moving average is $226.85 and its 200 day simple moving average is $222.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed 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 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

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.