Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,744 shares of the semiconductor company’s stock after selling 4,236 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Analog Devices were worth $28,022,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Metis Global Partners LLC grew its holdings in shares of Analog Devices by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 29,064 shares of the semiconductor company’s stock worth $6,690,000 after acquiring an additional 1,377 shares during the period. Zions Bancorporation N.A. boosted its position in shares of Analog Devices by 17.8% in the 3rd quarter. Zions Bancorporation N.A. now owns 4,071 shares of the semiconductor company’s stock worth $937,000 after buying an additional 615 shares in the last quarter. Huntington National Bank lifted its stake in shares of Analog Devices by 2.4% during the third quarter. Huntington National Bank now owns 471,158 shares of the semiconductor company’s stock valued at $108,447,000 after buying an additional 11,225 shares during the period. ICICI Prudential Asset Management Co Ltd grew its position in shares of Analog Devices by 18.9% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 6,481 shares of the semiconductor company’s stock valued at $1,492,000 after purchasing an additional 1,030 shares during the period. Finally, Kovack Advisors Inc. purchased a new position in Analog Devices during the third quarter worth about $365,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded up $0.90 during trading on Thursday, reaching $213.74. 82,334 shares of the company’s stock traded hands, compared to its average volume of 3,201,018. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The company has a 50 day moving average of $226.16 and a 200-day moving average of $225.02. Analog Devices, Inc. has a 12 month low of $178.66 and a 12 month high of $244.14. The stock has a market capitalization of $106.12 billion, a P/E ratio of 63.92, a price-to-earnings-growth ratio of 3.08 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data 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 business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the firm posted $2.49 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, equities analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 110.51%.

Analyst Ratings Changes

Several equities analysts recently commented on ADI shares. Bank of America dropped their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Morgan Stanley increased their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Barclays boosted their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction that occurred on Thursday, August 29th. The shares were 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 approximately $879,365.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction on 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is owned by corporate insiders.

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.