Proficio Capital Partners LLC Has $3.20 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Proficio Capital Partners LLC decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,903 shares of the semiconductor company’s stock after selling 216 shares during the period. Proficio Capital Partners LLC’s holdings in Analog Devices were worth $3,200,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the 3rd quarter worth about $28,000. New Millennium Group LLC bought a new position in Analog Devices in the 2nd quarter worth approximately $29,000. ORG Partners LLC lifted its holdings in shares of Analog Devices by 675.0% during the second 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 boosted its position in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC bought a new position in Analog Devices during the second quarter worth $37,000. 86.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADI. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and decreased their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Morgan Stanley upped their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Barclays upped their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Transactions at Analog Devices

In other news, Director Edward H. Frank sold 500 shares of the 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 sale, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Edward H. Frank sold 500 shares of the firm’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 transaction, the director now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,495 shares of company stock worth $25,229,958. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $225.80 on Friday. 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 stock has a fifty day moving average price of $226.61 and a two-hundred day moving average price of $224.39. Analog Devices, Inc. has a 52-week low of $166.78 and a 52-week high of $244.14. The firm has a market capitalization of $112.11 billion, a P/E ratio of 67.81, a P/E/G ratio of 3.17 and a beta of 1.08.

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

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, September 3rd. 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.