Evernest Financial Advisors LLC Sells 1,259 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Evernest Financial Advisors LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 26.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,421 shares of the semiconductor company’s stock after selling 1,259 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Analog Devices were worth $787,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in shares of Analog Devices in the second quarter worth $29,000. Riverview Trust Co bought a new stake in shares of Analog Devices during the 1st quarter valued at about $30,000. ORG Partners LLC lifted its stake in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the period. CVA Family Office LLC boosted its holdings in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Analog Devices during the second quarter valued at approximately $37,000. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Barclays lifted their target price on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Oppenheimer restated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on 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 of the company’s stock, valued at approximately $24,447,741.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the sale, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,495 shares of company stock valued at $20,794,658 in the last three months. 0.31% of the stock is currently owned by company insiders.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $225.67 on Tuesday. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The business’s 50 day moving average price is $226.23 and its 200 day moving average price is $221.45. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a market cap of $111.98 billion, a P/E ratio of 52.73, a P/E/G ratio of 3.87 and a beta of 1.07.

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

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

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.