Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 19.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,657 shares of the semiconductor company’s stock after selling 1,794 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Analog Devices were worth $1,762,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC bought a new position in shares of Analog Devices during the second quarter valued at approximately $29,000. ORG Partners LLC grew 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 valued at $35,000 after purchasing an additional 135 shares during the last quarter. CVA Family Office LLC grew its holdings in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Analog Devices during the second quarter valued at approximately $37,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of Analog Devices during the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

ADI opened at $230.17 on Friday. The stock has a fifty day moving average of $226.85 and a 200-day moving average of $222.11. The firm has a market capitalization of $114.21 billion, a P/E ratio of 53.78, a PEG ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the company earned $2.49 earnings per share. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.60%. Analog Devices’s dividend payout ratio is 85.98%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADI. Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Barclays increased their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. increased their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Insider Buying and Selling

In related 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 completion of the sale, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The shares were 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 of the company’s stock, valued at $1,078,935.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,495 shares of company stock worth $20,794,658. Corporate insiders own 0.31% of the company’s stock.

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.