US Bancorp DE Decreases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

US Bancorp DE reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 502,601 shares of the semiconductor company’s stock after selling 9,779 shares during the period. US Bancorp DE’s holdings in Analog Devices were worth $115,684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Analog Devices by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after buying an additional 1,330,242 shares in the last quarter. Capital International Investors raised its holdings in shares of Analog Devices by 14.3% in the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after acquiring an additional 644,945 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Analog Devices by 21.4% in the second 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. Finally, Legal & General Group Plc lifted its position in shares of Analog Devices by 5.3% in the second quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock valued at $963,788,000 after acquiring an additional 211,202 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Down 2.7 %

Analog Devices stock traded down $6.24 during midday trading on Thursday, hitting $223.88. 1,081,089 shares of the company were exchanged, compared to its average volume of 3,202,980. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a fifty-two week low of $155.16 and a fifty-two week high of $244.14. The company’s fifty day moving average price is $227.22 and its 200-day moving average price is $222.87. The company has a market cap of $111.15 billion, a PE ratio of 69.11, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating 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 company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the company posted $2.49 EPS. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, research analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 110.51%.

Insider Activity

In related news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $233,138.45. Following the transaction, the director now owns 3,753 shares in the company, valued at $879,365.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 81,495 shares of company stock worth $18,513,858. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ADI shares. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Bank of America decreased their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Morgan Stanley boosted their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Six 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.