1620 Investment Advisors Inc. Sells 226 Shares of Analog Devices, Inc. (NASDAQ:ADI)

1620 Investment Advisors Inc. trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 32.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 477 shares of the semiconductor company’s stock after selling 226 shares during the period. 1620 Investment Advisors Inc.’s holdings in Analog Devices were worth $110,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cornerstone Wealth Group LLC acquired a new stake in Analog Devices in the third quarter valued at approximately $245,000. First Trust Direct Indexing L.P. lifted its holdings in shares of Analog Devices by 14.3% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,358 shares of the semiconductor company’s stock valued at $4,456,000 after purchasing an additional 2,418 shares during the last quarter. Avitas Wealth Management LLC grew its stake in Analog Devices by 1.6% during the 3rd quarter. Avitas Wealth Management LLC now owns 13,808 shares of the semiconductor company’s stock worth $3,178,000 after buying an additional 214 shares during the last quarter. Eagle Strategies LLC increased its position in Analog Devices by 230.3% during the 3rd quarter. Eagle Strategies LLC now owns 3,065 shares of the semiconductor company’s stock valued at $706,000 after buying an additional 2,137 shares in the last quarter. Finally, GW Henssler & Associates Ltd. purchased a new stake in Analog Devices in the third quarter valued at about $12,465,000. 86.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction that occurred 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 sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Analog Devices news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction dated Friday, August 23rd. The shares were 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 $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 available at the SEC website. Also, 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 completion of the sale, the director now 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 81,495 shares of company stock valued at $18,513,858. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ADI shares. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Oppenheimer reissued an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Morgan Stanley raised their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Stock Down 2.2 %

Shares of NASDAQ ADI opened at $230.12 on Thursday. The stock has a market cap of $114.25 billion, a PE ratio of 69.11, a P/E/G ratio of 3.87 and a beta of 1.07. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $155.16 and a 12-month high of $244.14. The company has a 50-day moving average of $227.22 and a 200 day moving average of $222.87.

Analog Devices (NASDAQ:ADI) last posted its quarterly 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 business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the business earned $2.49 earnings per share. The business’s revenue was down 24.8% compared to the same quarter last year. As a group, sell-side analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 presently 110.51%.

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.