DT Investment Partners LLC Boosts Position in Analog Devices, Inc. (NASDAQ:ADI)

DT Investment Partners LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,893 shares of the semiconductor company’s stock after acquiring an additional 51 shares during the quarter. DT Investment Partners LLC’s holdings in Analog Devices were worth $1,587,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ADI. New Millennium Group LLC purchased a new stake in shares of Analog Devices in the 2nd quarter worth about $29,000. ORG Partners LLC boosted its position in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of Analog Devices by 40.2% during the 2nd 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 period. Hobbs Group Advisors LLC bought a new position in shares of Analog Devices in the 2nd quarter worth approximately $37,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Analog Devices in the 1st quarter valued at approximately $40,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $229.68 on Friday. The firm’s 50 day moving average price is $226.59 and its 200-day moving average price is $221.70. 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 stock has a market capitalization of $113.97 billion, a PE ratio of 53.66, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.49 EPS. Equities research analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.60%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now directly owns 79,093 shares in the company, valued at $18,106,760.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now owns 79,093 shares of the company’s stock, valued at $18,106,760.49. The trade was 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 valued at $20,794,658. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays increased their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. 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, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Bank of America lowered their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Six equities research 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.com, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $249.80.

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.