New York Life Investment Management LLC Trims Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

New York Life Investment Management LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,769 shares of the semiconductor company’s stock after selling 501 shares during the period. New York Life Investment Management LLC’s holdings in Analog Devices were worth $17,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Baader Bank Aktiengesellschaft grew its position in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 43 shares during the period. CVA Family Office LLC increased its stake in shares of Analog Devices by 40.2% in the 2nd 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 in the last quarter. SouthState Corp raised its holdings in Analog Devices by 28.6% in the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 50 shares during the period. Tsfg LLC raised its holdings in Analog Devices by 24.5% in the 2nd quarter. Tsfg LLC now owns 269 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 53 shares during the period. Finally, Mcdonald Partners LLC boosted its position in Analog Devices by 0.7% during the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock worth $1,497,000 after purchasing an additional 54 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADI has been the subject of several research analyst reports. Bank of America reduced their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley increased their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Susquehanna lifted their target price on shares of Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $251.45.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,570,541.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The transaction was disclosed in a filing 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 on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,107 shares of company stock worth $11,301,610. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Trading Down 2.5 %

NASDAQ ADI opened at $213.64 on Friday. 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 stock has a market capitalization of $106.01 billion, a P/E ratio of 49.92, a PEG ratio of 3.91 and a beta of 1.07. The firm’s 50-day moving average is $225.39 and its two-hundred day moving average is $213.80. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month 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 the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the business posted $2.49 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

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.