NBC Securities Inc. Sells 171 Shares of Analog Devices, Inc. (NASDAQ:ADI)

NBC Securities Inc. trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 32.8% in the third quarter, Holdings Channel reports. The fund owned 350 shares of the semiconductor company’s stock after selling 171 shares during the quarter. NBC Securities Inc.’s holdings in Analog Devices were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. New Millennium Group LLC bought a new stake in Analog Devices during the 2nd quarter worth approximately $29,000. Riverview Trust Co acquired a new position in shares of Analog Devices during the first quarter worth $30,000. ORG Partners LLC lifted its holdings in shares of Analog Devices by 675.0% during the second 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 grew its stake 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 purchasing an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Analog Devices in the second quarter valued at $37,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the sale, the chief executive officer now owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. 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 accessible through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the sale, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at $10,376,481.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward H. Frank sold 995 shares of the 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 of the company’s stock, valued at $879,365.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,495 shares of company stock worth $20,794,658. 0.31% of the stock is owned by company insiders.

Analog Devices Trading Up 0.4 %

Shares of ADI stock opened at $228.33 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The company has a market capitalization of $113.30 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a 50-day simple moving average of $225.95 and a two-hundred day simple moving average of $221.21.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The company 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%. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.49 earnings per share. Research analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Bank of America reduced their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Morgan Stanley upped their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.