Beacon Investment Advisory Services Inc. Sells 3,700 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Beacon Investment Advisory Services Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.9% during the third quarter, HoldingsChannel reports. The fund owned 196,238 shares of the semiconductor company’s stock after selling 3,700 shares during the quarter. Analog Devices comprises about 1.9% of Beacon Investment Advisory Services Inc.’s portfolio, making the stock its 11th largest holding. Beacon Investment Advisory Services Inc.’s holdings in Analog Devices were worth $45,168,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baader Bank Aktiengesellschaft increased its position in Analog Devices by 3.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after acquiring an additional 43 shares during the period. Grove Bank & Trust grew its stake in shares of Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock worth $333,000 after purchasing an additional 43 shares during the last quarter. CVA Family Office LLC increased its holdings in Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Legacy Financial Advisors Inc. increased its holdings in Analog Devices by 1.4% in the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after purchasing an additional 48 shares during the period. Finally, Quotient Wealth Partners LLC raised its position in Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 0.4 %

NASDAQ ADI opened at $218.05 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.84 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 business has a 50 day moving average price of $224.14 and a 200-day moving average price of $226.03. The company has a market cap of $108.22 billion, a price-to-earnings ratio of 66.28, a P/E/G ratio of 3.36 and a beta of 1.08.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be issued 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 111.85%.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated 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 owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 21.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. The trade was a 18.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,000 shares of company stock valued at $24,883,200. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ADI. Piper Sandler reduced their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. TD Cowen dropped their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.