Patten & Patten Inc. TN Sells 46 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Patten & Patten Inc. TN lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,586 shares of the semiconductor company’s stock after selling 46 shares during the quarter. Patten & Patten Inc. TN’s holdings in Analog Devices were worth $365,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ADI. Atomi Financial Group Inc. bought a new position in Analog Devices during the 1st quarter worth $215,000. Bleakley Financial Group LLC increased its position in Analog Devices by 23.1% in the 1st quarter. Bleakley Financial Group LLC now owns 18,455 shares of the semiconductor company’s stock valued at $3,650,000 after buying an additional 3,459 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Analog Devices in the 1st quarter worth approximately $5,205,000. Koshinski Asset Management Inc. boosted its stake in shares of Analog Devices by 20.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,266 shares of the semiconductor company’s stock worth $844,000 after buying an additional 729 shares during the last quarter. Finally, Dearborn Partners LLC boosted its stake in shares of Analog Devices by 3.5% in the 1st quarter. Dearborn Partners LLC now owns 58,119 shares of the semiconductor company’s stock worth $11,495,000 after buying an additional 1,990 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity

In related news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, 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 transaction of $233,138.45. Following the sale, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was 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 owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,495 shares of company stock worth $25,229,958. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

NASDAQ:ADI opened at $220.47 on Tuesday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $226.61 and its 200-day moving average price is $224.83. Analog Devices, Inc. has a twelve month low of $170.10 and a twelve month high of $244.14. The company has a market cap of $109.46 billion, a P/E ratio of 66.21, a P/E/G ratio of 3.17 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business posted $2.49 earnings per share. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. On average, sell-side analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 110.51%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADI. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Morgan Stanley upped their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Bank of America cut their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

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.