Fort L.P. Sells 186 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fort L.P. decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,151 shares of the semiconductor company’s stock after selling 186 shares during the quarter. Fort L.P.’s holdings in Analog Devices were worth $265,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth approximately $29,000. ORG Partners LLC grew its position in shares of 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 period. CVA Family Office LLC grew its position 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 buying an additional 45 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth approximately $37,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Analog Devices in the 1st quarter valued at $40,000. Institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, 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 transaction of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. 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 the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction 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 owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. 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 81,495 shares of company stock worth $18,513,858 over the last quarter. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on ADI shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Bank of America cut their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $2.37 during trading on Friday, hitting $225.48. The company had a trading volume of 2,922,814 shares, compared to its average volume of 3,216,943. The stock has a 50 day simple moving average of $227.19 and a 200 day simple moving average of $223.34. The firm has a market capitalization of $111.95 billion, a P/E ratio of 67.71, a price-to-earnings-growth ratio of 3.82 and a beta of 1.08. Analog Devices, Inc. has a 12 month low of $161.64 and a 12 month high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business earned $2.49 EPS. The company’s quarterly revenue was down 24.8% on a year-over-year basis. As a group, 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 declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 annualized dividend and a yield of 1.63%. Analog Devices’s payout ratio is presently 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.