Rockefeller Capital Management L.P. Purchases 7,233 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Rockefeller Capital Management L.P. boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 413,507 shares of the semiconductor company’s stock after acquiring an additional 7,233 shares during the period. Rockefeller Capital Management L.P. owned 0.08% of Analog Devices worth $95,133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Centric Wealth Management boosted its stake in Analog Devices by 1.1% in the third quarter. Centric Wealth Management now owns 13,530 shares of the semiconductor company’s stock valued at $3,061,000 after acquiring an additional 145 shares during the last quarter. CWS Financial Advisors LLC bought a new position in shares of Analog Devices in the 3rd quarter worth $202,000. Northwest & Ethical Investments L.P. grew its position in shares of Analog Devices by 15.2% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 51,227 shares of the semiconductor company’s stock worth $11,791,000 after buying an additional 6,751 shares during the period. Public Sector Pension Investment Board boosted its stake in Analog Devices by 13.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 21,612 shares of the semiconductor company’s stock worth $4,974,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Fiduciary Trust Co grew its holdings in Analog Devices by 15.1% during the third quarter. Fiduciary Trust Co now owns 62,259 shares of the semiconductor company’s stock valued at $14,330,000 after purchasing an additional 8,173 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock worth $24,883,200 in the last three months. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADI has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Wells Fargo & Company began coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday. TD Cowen dropped their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Bank of America reduced their price target 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. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $249.33.

Analog Devices Stock Down 0.9 %

Shares of ADI opened at $217.17 on Friday. The firm has a 50 day simple moving average of $224.32 and a two-hundred day simple moving average of $225.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a one year low of $179.63 and a one year high of $244.14. The company has a market cap of $107.82 billion, a P/E ratio of 66.01, a P/E/G ratio of 3.15 and a beta of 1.08.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be paid a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices’s payout ratio is currently 111.85%.

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.