First Business Financial Services Inc. Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

First Business Financial Services Inc. reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,817 shares of the semiconductor company’s stock after selling 455 shares during the period. Analog Devices makes up approximately 0.3% of First Business Financial Services Inc.’s holdings, making the stock its 29th largest holding. First Business Financial Services Inc.’s holdings in Analog Devices were worth $2,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADI. Capital Performance Advisors LLP acquired a new stake in Analog Devices during the third quarter worth $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth about $29,000. ORG Partners LLC raised its holdings in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the period. CVA Family Office LLC raised its stake in shares of Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices in the 2nd quarter worth approximately $37,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Down 0.3 %

ADI stock opened at $212.24 on Friday. Analog Devices, Inc. has a one year low of $178.66 and a one year high of $244.14. The stock has a market capitalization of $105.38 billion, a P/E ratio of 63.74, a PEG ratio of 2.98 and a beta of 1.08. The company has a 50 day moving average price of $226.16 and a two-hundred day moving average price of $225.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned $2.49 EPS. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. As a group, sell-side analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.73%. Analog Devices’s dividend payout ratio is currently 110.51%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ADI. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Morgan Stanley boosted their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Bank of America decreased 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 note on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Insiders Place Their Bets

In other news, 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 value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now owns 3,753 shares in the company, valued at $879,365.43. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,495 shares of company stock worth $25,229,958 in the last 90 days. 0.31% of the stock is owned by company insiders.

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.