Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by BNP Paribas

BNP Paribas decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 60.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,234 shares of the semiconductor company’s stock after selling 6,434 shares during the period. BNP Paribas’ holdings in Analog Devices were worth $975,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ADI. Charles Schwab Investment Management Inc. increased its holdings in shares of Analog Devices by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares during the period. Swiss National Bank increased its holdings in shares of Analog Devices by 0.3% in the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after purchasing an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in shares of Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares during the period. Summit Global Investments acquired a new position in shares of Analog Devices in the third quarter valued at approximately $867,000. Finally, Versor Investments LP acquired a new position in shares of Analog Devices in the third quarter valued at approximately $952,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of recent research reports. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday. TD Cowen decreased their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday. 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. Truist Financial decreased their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Oppenheimer restated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $249.33.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value 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 approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were 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 owns 79,093 shares of the company’s stock, valued at $18,106,760.49. The trade was a 27.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $24,883,200 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Stock Down 0.9 %

Shares of NASDAQ:ADI opened at $217.17 on Thursday. 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, Inc. has a 52-week low of $179.63 and a 52-week high of $244.14. The stock’s fifty day simple moving average is $224.64 and its 200-day simple moving average is $225.86. The company has a market capitalization of $107.82 billion, a P/E ratio of 65.22, a P/E/G ratio of 3.15 and a beta of 1.08.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be given a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. Analog Devices’s dividend payout ratio is currently 110.51%.

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.