Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,634,348 shares of the semiconductor company’s stock after selling 148,509 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.33% of Analog Devices worth $376,178,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the third quarter worth about $28,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices during the second quarter worth approximately $29,000. ORG Partners LLC raised 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 worth $35,000 after buying an additional 135 shares during the last quarter. CVA Family Office LLC lifted its stake in shares of Analog Devices by 40.2% in 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. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Analog Devices in the second quarter valued at about $37,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Trading Down 2.4 %

Analog Devices stock opened at $220.47 on Tuesday. 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 business has a 50 day moving average price of $226.32 and a two-hundred day moving average price of $224.99. Analog Devices, Inc. has a 12 month low of $170.10 and a 12 month high of $244.14. The stock has a market cap of $109.46 billion, a price-to-earnings ratio of 66.21, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion for 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 firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.49 EPS. As a group, equities analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared 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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 110.51%.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction that occurred 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 sale, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock worth $25,229,958 in the last three months. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley raised their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, 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. Six investment 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, Analog Devices currently has a consensus 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.