Adell Harriman & Carpenter Inc. Has $281,000 Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Adell Harriman & Carpenter Inc. cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,220 shares of the semiconductor company’s stock after selling 106 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Analog Devices were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADI. Norden Group LLC grew its holdings in Analog Devices by 1,534.0% in the first quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company’s stock worth $5,355,000 after purchasing an additional 25,419 shares during the period. Tidal Investments LLC increased its position in shares of Analog Devices by 24.9% during the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock worth $6,268,000 after acquiring an additional 6,314 shares in the last quarter. BDF Gestion bought a new stake in Analog Devices during the 2nd quarter worth approximately $4,491,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Analog Devices by 3.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock valued at $16,912,000 after purchasing an additional 2,280 shares in the last quarter. Finally, Interval Partners LP bought a new position in shares of Analog Devices in the first quarter valued at approximately $1,978,000. 86.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price objective 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. Morgan Stanley upped 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. Oppenheimer restated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Six 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, Analog Devices has an average rating of “Moderate Buy” and an average price target of $249.80.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. This 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 business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,495 shares of company stock valued at $20,794,658 over the last three months. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

NASDAQ ADI opened at $235.23 on Wednesday. The company’s 50 day simple moving average is $227.17 and its two-hundred day simple moving average is $222.82. 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 1 year low of $154.99 and a 1 year high of $244.14. The stock has a market capitalization of $116.79 billion, a PE ratio of 70.64, a P/E/G ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data 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. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the company earned $2.49 earnings per share. Analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 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.