Atlantic Union Bankshares Corp Has $5.09 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Atlantic Union Bankshares Corp lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 22,132 shares of the semiconductor company’s stock after selling 1,319 shares during the period. Atlantic Union Bankshares Corp’s holdings in Analog Devices were worth $5,094,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC bought a new position in shares of Analog Devices during the 2nd quarter worth approximately $29,000. Archer Investment Corp lifted its position in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC lifted 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 in the last quarter. Finally, CVA Family Office LLC lifted 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 in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ADI. Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. TD Cowen lowered their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Finally, 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. Seven investment 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

Analog Devices Stock Down 0.9 %

ADI opened at $217.17 on Friday. The company has a fifty day moving average price of $224.32 and a 200-day moving average price of $225.80. The firm has a market capitalization of $107.78 billion, a P/E ratio of 66.01, a price-to-earnings-growth ratio of 3.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.24. Analog Devices, Inc. has a one year low of $179.63 and a one year high of $244.14.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock worth $24,883,200 in the last three months. Corporate insiders own 0.31% of the company’s stock.

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.