DRW Securities LLC Cuts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

DRW Securities LLC decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 67.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,342 shares of the semiconductor company’s stock after selling 2,810 shares during the quarter. DRW Securities LLC’s holdings in Analog Devices were worth $309,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Raymond James & Associates boosted its stake in Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the last quarter. International Assets Investment Management LLC boosted its position in Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after acquiring an additional 883,888 shares during the last quarter. American Century Companies Inc. grew its stake in Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after acquiring an additional 767,534 shares in the last quarter. Van ECK Associates Corp grew its stake in Analog Devices by 17.3% during the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after acquiring an additional 700,862 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Analog Devices by 383.3% in the 2nd quarter. Marshall Wace LLP now owns 670,269 shares of the semiconductor company’s stock valued at $152,996,000 after acquiring an additional 531,597 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ:ADI opened at $217.17 on Thursday. Analog Devices, Inc. has a 52 week low of $179.63 and a 52 week high of $244.14. The company has a fifty day simple moving average of $224.64 and a two-hundred day simple moving average of $225.86. 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 market cap of $107.82 billion, a price-to-earnings ratio of 65.22, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08.

Analog Devices Announces Dividend

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

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value 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 approximately $24,447,741.30. This represents a 21.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 sale, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. This trade represents a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock worth $24,883,200 in the last quarter. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

ADI has been the subject of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday. Morgan Stanley dropped their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler dropped their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Truist Financial cut their price objective on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

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.