Bartlett & CO. Wealth Management LLC Sells 12,811 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Bartlett & CO. Wealth Management LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 352,223 shares of the semiconductor company’s stock after selling 12,811 shares during the quarter. Analog Devices accounts for about 1.2% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 25th largest holding. Bartlett & CO. Wealth Management LLC’s holdings in Analog Devices were worth $81,071,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADI. Perpetual Ltd grew its stake in shares of Analog Devices by 51.6% in the 1st quarter. Perpetual Ltd now owns 4,236 shares of the semiconductor company’s stock worth $838,000 after buying an additional 1,441 shares in the last quarter. Wedmont Private Capital grew its position in Analog Devices by 3.0% in the first quarter. Wedmont Private Capital now owns 3,506 shares of the semiconductor company’s stock worth $716,000 after acquiring an additional 102 shares in the last quarter. &PARTNERS purchased a new stake in Analog Devices during the first quarter valued at approximately $1,109,000. Salem Investment Counselors Inc. boosted its holdings in shares of Analog Devices by 17.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,647 shares of the semiconductor company’s stock worth $326,000 after purchasing an additional 239 shares during the period. Finally, Royal Fund Management LLC lifted its stake in Analog Devices by 7.5% in the first quarter. Royal Fund Management LLC now owns 7,334 shares of the semiconductor company’s stock worth $1,451,000 after purchasing an additional 512 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ADI shares. Barclays upped 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 note on Thursday, July 18th. Bank of America lowered their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Stock Up 0.4 %

Shares of ADI opened at $228.33 on Friday. The stock’s 50-day moving average price is $225.95 and its 200-day moving average price is $220.85. 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 capitalization of $113.30 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last issued 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. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the company earned $2.49 EPS. The business’s revenue was down 24.8% on a year-over-year basis. On average, sell-side analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

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

Insider Activity

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s 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 completion of the transaction, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the transaction, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at $10,376,481.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the sale, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,495 shares of company stock worth $20,794,658 in the last ninety days. Company insiders own 0.31% of the company’s stock.

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.