Private Advisor Group LLC Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Private Advisor Group LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 11.1% in the first quarter, according to the company’s latest filing with the Securities and Exchange Commission. The institutional investor holds 19,263 shares of the semiconductor company’s stock after selling 2,413 shares during the period. Private Advisor Group LLC’s stake in Analog Devices was worth $3,810,000, according to the company’s latest filing with the SEC.

Several other hedge funds also recently bought and sold shares of ADI. Pinnacle Bancorp Inc. increased its holdings in shares of Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas increased its position in Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 65 shares during the period. Silver Oak Securities Incorporated purchased a new position in shares of Analog Devices in the third quarter worth approximately $29,000. Cetera Trust Company NA purchased a new position in shares of Analog Devices in the fourth quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC bought a new stake in Analog Devices in the 4th quarter worth approximately $29,000. Institutional investors own 86.81% of the company’s shares.

Analyst ratings upgrades and downgrades

ADI has been the subject of several recent research reports. Cantor Fitzgerald raised their price target on Analog Devices from $205.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15. Truist Financial raised their price target on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23. Evercore ISI initiated coverage on shares of Analog Devices in a research note on Tuesday, April 16. They set an “outperform” rating and a $254.00 price target for the company. Oppenheimer raised their price target on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16. Finally, Barclays raised their price target on Analog Devices from $185.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, May 20. Seven analysts have rated the stock a “hold,” while eighteen have given it a “buy” rating. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

See our latest stock analysis on Analog Devices

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the completion of the transaction, the CEO now owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC’s website . In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the CEO now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The sale was disclosed in legal documents filed with the SEC, which can be accessed through this hyperlink . Additionally, Director James Champy sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 28. The shares were sold at an average price of $233.55, for a total transaction value of $980,910.00. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at $1,487,947.05. Disclosure of this sale can be found here . Over the last three months, insiders have sold 46,642 shares of the company’s stock, valued at $10,481,343. Insiders own 0.31% of the company’s stock.

Sales of analog devices increased by 0.4%

NASDAQ:ADI opened at $230.89 on Friday. The company has a market cap of $114.57 billion, a P/E ratio of 53.95, a PEG ratio of 3.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. Analog Devices, Inc. has a one-year low of $154.99 and a one-year high of $241.88. The company’s 50-day simple moving average is $223.56 and its 200-day simple moving average is $203.75.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its financial results on Wednesday, May 22. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s revenue was down 33.8% year-over-year. During the same period last year, the company posted earnings per share of $2.83. Analysts are forecasting that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17. Investors of record on Tuesday, June 4 received a dividend of $0.92. The ex-dividend date was Tuesday, June 4. This represents an annual dividend of $3.68 and a yield of 1.59%. Analog Devices’ Dividend Payout Ratio (DPR) currently stands at 85.98%.

About Analog Devices

(Free report)

Analog Devices, Inc. designs, manufactures, tests, and sells integrated circuits (ICs), software, and subsystem products in the United States, the rest of North and South America, Europe, Japan, China, and the rest of Asia. The company provides data converter products that translate real-world analog signals into digital data, and that translate digital data into analog signals; power management and reference products for power conversion, controller monitoring, sequencing, and power management in automotive, communications, industrial, and consumer applications; and power supply ICs, which include performance simulation, integration, and software design tools for accurate power supply design.

Featured Stories

Want to see what other hedge funds hold ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trading information for Analog Devices, Inc. (NASDAQ:ADI – free report).

Get daily news and reviews about analog devices – Enter your email address below to receive a concise summary of the latest news and analyst ratings for Analog Devices and related companies in MarketBeat.com’s FREE daily newsletter.