Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,021 shares of the semiconductor company’s stock after selling 888 shares during the period. Raymond James Trust N.A.’s holdings in Analog Devices were worth $18,722,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ADI. Baader Bank Aktiengesellschaft boosted its position 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 worth $259,000 after acquiring an additional 43 shares during the last quarter. CVA Family Office LLC boosted its position 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 acquiring an additional 45 shares during the last quarter. Tsfg LLC boosted its position in shares of Analog Devices by 24.5% in the second quarter. Tsfg LLC now owns 269 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 53 shares during the last quarter. Mcdonald Partners LLC boosted its position in shares of Analog Devices by 0.7% in the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock worth $1,497,000 after acquiring an additional 54 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Analog Devices by 5.1% in the second quarter. Capital Advisors Ltd. LLC now owns 1,169 shares of the semiconductor company’s stock worth $267,000 after acquiring an additional 57 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Up 2.9 %

Shares of NASDAQ:ADI traded up $6.48 during midday trading on Friday, reaching $228.39. The company had a trading volume of 3,208,020 shares, compared to its average volume of 3,378,589. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The stock’s fifty day moving average price is $226.33 and its 200-day moving average price is $211.60. The stock has a market capitalization of $113.33 billion, a P/E ratio of 53.36, a PEG ratio of 3.69 and a beta of 1.08. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly 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. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company posted $2.49 earnings per share. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. Equities research analysts expect that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

Insider Activity

In related news, Director James Champy sold 4,200 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,487,947.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Analog Devices news, Director James Champy sold 4,200 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,487,947.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares in the company, valued at $16,198,239.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,812 shares of company stock valued at $9,648,861. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on ADI shares. Morgan Stanley lifted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup lifted their price target on shares of Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group lifted their price target on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday. Finally, Truist Financial reduced their price target on shares of Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.45.

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.