Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,621 shares of the semiconductor company’s stock after selling 61 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Analog Devices were worth $373,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ADI. Baader Bank Aktiengesellschaft raised its holdings in shares of Analog Devices by 3.9% in 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 last quarter. CVA Family Office LLC grew its position in 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 buying an additional 45 shares during the last quarter. Legacy Financial Advisors Inc. increased its stake in Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after buying an additional 48 shares during the period. SouthState Corp raised its position in Analog Devices by 28.6% during the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock worth $51,000 after buying an additional 50 shares during the last quarter. Finally, Investment Partners LTD. lifted its stake in shares of Analog Devices by 2.9% in the 2nd quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock worth $399,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $229.40 on Wednesday. The stock has a fifty day moving average of $222.81 and a two-hundred day moving average of $218.94. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The company has a market capitalization of $113.83 billion, a price-to-earnings ratio of 53.60, a PEG ratio of 3.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm posted $2.49 EPS. Analog Devices’s revenue was down 24.8% on a year-over-year basis. On average, analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 85.98%.

Wall Street Analysts Forecast Growth

ADI has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday. Morgan Stanley lifted their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Finally, 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. Six equities research 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 a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the firm’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 completion of the sale, the director now owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is currently owned by company insiders.

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.