Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,195 shares of the semiconductor company’s stock after selling 552 shares during the quarter. Hartford Investment Management Co.’s holdings in Analog Devices were worth $7,180,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. New Millennium Group LLC acquired a new stake in shares of Analog Devices in the 2nd quarter valued at about $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices in the first quarter valued at approximately $30,000. ORG Partners LLC boosted its holdings in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares during the period. CVA Family Office LLC grew its position 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 acquiring an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

NASDAQ:ADI traded up $3.90 during mid-day trading on Wednesday, hitting $228.52. 158,326 shares of the company’s stock traded hands, compared to its average volume of 3,223,533. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The company has a market cap of $113.40 billion, a PE ratio of 52.48, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. The firm’s 50 day simple moving average is $226.36 and its 200 day simple moving average is $221.66. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business 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 company’s revenue was down 24.8% on a year-over-year basis. During the same period last year, the company posted $2.49 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

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 dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 completion of 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 disclosure for this sale can be found here. In the last quarter, insiders sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ADI has been the topic of several research reports. Barclays raised their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America decreased their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $249.80.

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.