KBC Group NV Has $49.76 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

KBC Group NV cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 216,167 shares of the semiconductor company’s stock after selling 3,325 shares during the quarter. KBC Group NV’s holdings in Analog Devices were worth $49,755,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in Analog Devices in the 3rd quarter valued at about $28,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices during the second quarter valued at approximately $29,000. ORG Partners LLC lifted its holdings in 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 acquiring an additional 135 shares during the period. CVA Family Office LLC boosted its position in Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Analog Devices in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ADI shares. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target 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. Finally, Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction that occurred 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 transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 9.53 % 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 valued at $25,229,958 over the last three months. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Down 0.3 %

ADI opened at $212.24 on Friday. The firm has a market capitalization of $105.38 billion, a P/E ratio of 63.74, a price-to-earnings-growth ratio of 3.08 and a beta of 1.08. Analog Devices, Inc. has a one year low of $178.66 and a one year high of $244.14. The company has a fifty day moving average price of $226.16 and a 200-day moving average price of $225.02. 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 (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. Equities research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 110.51%.

Analog Devices 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.