New England Research & Management Inc. Sells 1,887 Shares of Analog Devices, Inc. (NASDAQ:ADI)

New England Research & Management Inc. decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 53.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,611 shares of the semiconductor company’s stock after selling 1,887 shares during the quarter. New England Research & Management Inc.’s holdings in Analog Devices were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Salvus Wealth Management LLC boosted its holdings in shares of Analog Devices by 0.3% in the 3rd quarter. Salvus Wealth Management LLC now owns 19,521 shares of the semiconductor company’s stock worth $4,493,000 after purchasing an additional 57 shares during the period. Fulton Bank N.A. boosted its holdings in shares of Analog Devices by 53.2% in the 3rd quarter. Fulton Bank N.A. now owns 1,936 shares of the semiconductor company’s stock worth $446,000 after purchasing an additional 672 shares during the period. Miracle Mile Advisors LLC boosted its holdings in shares of Analog Devices by 6.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 3,595 shares of the semiconductor company’s stock worth $827,000 after purchasing an additional 204 shares during the period. IAM Advisory LLC boosted its holdings in shares of Analog Devices by 2.2% in the 3rd quarter. IAM Advisory LLC now owns 8,431 shares of the semiconductor company’s stock worth $1,941,000 after purchasing an additional 181 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Analog Devices by 30.4% in the 3rd quarter. GAMMA Investing LLC now owns 8,237 shares of the semiconductor company’s stock worth $1,896,000 after purchasing an additional 1,920 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 0.8 %

Shares of ADI stock traded down $1.72 during mid-day trading on Monday, hitting $226.51. The stock had a trading volume of 1,564,652 shares, compared to its average volume of 3,293,627. The firm has a market capitalization of $112.40 billion, a P/E ratio of 52.92, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07. 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 12-month low of $154.99 and a 12-month high of $244.14. The firm’s 50-day moving average is $222.83 and its two-hundred day moving average is $218.72.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results 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 analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.49 EPS. On average, analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ADI shares. JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Barclays lifted their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Bank of America dropped their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.80.

Insider Transactions at Analog Devices

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 transaction of $6,867,900.00. Following the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at $18,106,760.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,640,975.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the transaction, the executive vice president now directly owns 79,093 shares in the company, valued at $18,106,760.49. This 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 91,495 shares of company stock valued at $20,794,658. Corporate insiders own 0.31% of the company’s stock.

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.