Atlanta Consulting Group Advisors LLC Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Atlanta Consulting Group Advisors LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,209 shares of the semiconductor company’s stock, valued at approximately $508,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADI. Accredited Investors Inc. lifted its holdings in shares of Analog Devices by 34.6% during the third quarter. Accredited Investors Inc. now owns 4,015 shares of the semiconductor company’s stock worth $924,000 after purchasing an additional 1,032 shares during the period. KPP Advisory Services LLC lifted its holdings in Analog Devices by 14.8% during the 3rd quarter. KPP Advisory Services LLC now owns 1,573 shares of the semiconductor company’s stock worth $362,000 after buying an additional 203 shares during the period. Maxwell Wealth Strategies Inc. bought a new stake in shares of Analog Devices in the 3rd quarter valued at about $1,345,000. Natixis Advisors LLC increased its stake in shares of Analog Devices by 6.9% in the third quarter. Natixis Advisors LLC now owns 763,472 shares of the semiconductor company’s stock valued at $175,728,000 after buying an additional 49,612 shares during the period. Finally, Archer Investment Corp raised its position in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 2.8 %

ADI opened at $206.35 on Monday. Analog Devices, Inc. has a fifty-two week low of $178.66 and a fifty-two week high of $244.14. The firm has a market capitalization of $102.45 billion, a PE ratio of 61.97, a P/E/G ratio of 2.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The company’s 50-day moving average is $225.88 and its 200 day moving average is $225.34.

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 the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.49 earnings per share. As a group, research analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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 $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.78%. Analog Devices’s payout ratio is 110.51%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America decreased their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Oppenheimer reiterated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Transactions at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. This trade represents a 20.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,495 shares of company stock worth $25,229,958 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.

About Analog Devices

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.