Quent Capital LLC Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Quent Capital LLC decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,538 shares of the semiconductor company’s stock after selling 98 shares during the period. Quent Capital LLC’s holdings in Analog Devices were worth $354,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ADI. Point72 Italy S.r.l. bought a new position in Analog Devices in the 4th quarter worth about $6,367,000. Grayhawk Investment Strategies Inc. bought a new position in shares of Analog Devices in the fourth quarter valued at approximately $850,000. Bradley Foster & Sargent Inc. CT grew its stake in Analog Devices by 1,055.6% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock valued at $45,326,000 after acquiring an additional 208,522 shares in the last quarter. Profund Advisors LLC increased its holdings in Analog Devices by 16.2% during the 4th quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock worth $14,365,000 after acquiring an additional 10,106 shares during the period. Finally, Norden Group LLC lifted its stake in Analog Devices by 1,534.0% in the 1st quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company’s stock worth $5,355,000 after purchasing an additional 25,419 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 0.7 %

ADI opened at $228.23 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The stock has a market cap of $113.25 billion, a PE ratio of 53.32, a PEG ratio of 3.75 and a beta of 1.07. The business has a 50 day moving average of $222.83 and a 200-day moving average of $218.55.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) 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 last year, the company posted $2.49 EPS. Analog Devices’s revenue was down 24.8% on a year-over-year basis. Equities research analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADI. Bank of America lowered their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price 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. Morgan Stanley increased their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Barclays raised their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $24,447,741.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, 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 value of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares of the company’s stock, valued at $1,078,935.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,495 shares of company stock worth $20,794,658. 0.31% of the stock is owned by corporate 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.