Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 61,097 shares of the semiconductor company’s stock after selling 1,442 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Analog Devices were worth $14,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Analog Devices in the 3rd quarter valued at $28,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices in the second quarter valued at about $29,000. Archer Investment Corp increased its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC increased its position 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 purchasing an additional 135 shares during the last quarter. Finally, CVA Family Office LLC raised its stake in Analog Devices by 40.2% during 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 period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

NASDAQ:ADI opened at $206.35 on Friday. Analog Devices, Inc. has a 52 week low of $178.66 and a 52 week high of $244.14. The company has a fifty day simple moving average of $225.88 and a two-hundred day simple moving average of $225.12. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company has a market cap of $102.45 billion, a price-to-earnings ratio of 61.97, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.49 earnings per share. As a group, equities analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 110.51%.

Analyst Ratings Changes

Several research firms have recently weighed in on ADI. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their price target for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Activity

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 in the company, valued at $1,078,935.52. This trade represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,495 shares of company stock valued at $25,229,958. 0.31% of the stock is currently owned by company insiders.

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.