Farther Finance Advisors LLC Decreases Position in Analog Devices, Inc. (NASDAQ:ADI)

Farther Finance Advisors LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,536 shares of the semiconductor company’s stock after selling 968 shares during the period. Farther Finance Advisors LLC’s holdings in Analog Devices were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC raised its holdings in shares of Analog Devices by 24.9% in the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock worth $6,268,000 after buying an additional 6,314 shares during the period. BDF Gestion purchased a new stake in shares of Analog Devices in the second quarter worth approximately $4,491,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Analog Devices by 3.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock worth $16,912,000 after buying an additional 2,280 shares during the period. Interval Partners LP purchased a new stake in shares of Analog Devices in the first quarter worth approximately $1,978,000. Finally, Cetera Advisors LLC raised its holdings in shares of Analog Devices by 59.5% in the first quarter. Cetera Advisors LLC now owns 12,998 shares of the semiconductor company’s stock worth $2,571,000 after buying an additional 4,850 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADI. Barclays increased their price target 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. Bank of America reduced their price objective 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 objective on shares of Analog Devices in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating 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 stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Stock Down 0.6 %

Analog Devices stock opened at $224.19 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The stock has a market capitalization of $111.31 billion, a price-to-earnings ratio of 67.32, a PEG ratio of 3.70 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $165.59 and a 1-year high of $244.14. The business has a fifty day moving average price of $227.16 and a 200-day moving average price of $223.83.

Analog Devices (NASDAQ:ADI) last announced 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 firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the business earned $2.49 EPS. Analog Devices’s revenue for the quarter was down 24.8% compared to the same quarter last year. Equities research analysts forecast that Analog Devices, Inc. will post 6.34 EPS 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 issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.64%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is 110.51%.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction that occurred on 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 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 document filed with the SEC, which is available at this hyperlink. In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares in the company, 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 three months, insiders have sold 101,495 shares of company stock worth $22,991,258. Insiders own 0.31% of the company’s stock.

About Analog Devices

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.