Washington Trust Advisors Inc. Has $36,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Washington Trust Advisors Inc. cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 56.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155 shares of the semiconductor company’s stock after selling 200 shares during the period. Washington Trust Advisors Inc.’s holdings in Analog Devices were worth $36,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Swedbank AB acquired a new position in shares of Analog Devices in the first quarter worth approximately $537,171,000. Vanguard Group Inc. boosted its stake in shares of Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after buying an additional 1,753,536 shares during the period. Raymond James & Associates lifted its holdings in Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after buying an additional 1,422,054 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note 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 note on Thursday, August 22nd. Barclays lifted their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Six equities 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.80.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices 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 of the company’s stock, valued at approximately $13,229,149.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the 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 transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is owned by company insiders.

Analog Devices Stock Down 0.9 %

ADI opened at $225.80 on Friday. Analog Devices, Inc. has a fifty-two week low of $166.78 and a fifty-two week high of $244.14. The firm has a market capitalization of $112.11 billion, a P/E ratio of 67.81, a PEG ratio of 3.17 and a beta of 1.08. The company’s 50-day moving average is $226.61 and its 200 day moving average is $224.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company 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 company posted $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 110.51%.

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.