Wilkinson Global Asset Management LLC Sells 3,502 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wilkinson Global Asset Management LLC lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 199,896 shares of the semiconductor company’s stock after selling 3,502 shares during the period. Analog Devices comprises approximately 2.8% of Wilkinson Global Asset Management LLC’s holdings, making the stock its 16th largest position. Wilkinson Global Asset Management LLC’s holdings in Analog Devices were worth $46,010,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Swedbank AB purchased a new position in shares of Analog Devices during the first quarter valued at about $537,171,000. Vanguard Group Inc. increased its stake in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after acquiring an additional 1,753,536 shares in the last quarter. Raymond James & Associates boosted its position in shares of Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after acquiring an additional 1,422,054 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity

In other news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. 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 at this link. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock worth $25,229,958 over the last quarter. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ADI. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Barclays raised their price objective on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Stock Performance

ADI opened at $226.25 on Thursday. The stock has a market cap of $112.33 billion, a P/E ratio of 67.94, a P/E/G ratio of 3.16 and a beta of 1.08. 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 firm has a fifty day moving average price of $226.85 and a 200 day moving average price of $224.09. Analog Devices, Inc. has a 1 year low of $166.78 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period last year, the firm earned $2.49 EPS. Equities research analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.63%. Analog Devices’s payout ratio is currently 110.51%.

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.