Adams Diversified Equity Fund Inc. Sells 13,900 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Adams Diversified Equity Fund Inc. reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 12.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,100 shares of the semiconductor company’s stock after selling 13,900 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in Analog Devices were worth $22,580,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ADI. New Millennium Group LLC bought a new position in Analog Devices during the second quarter worth about $29,000. ORG Partners LLC lifted its holdings in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares in the last quarter. CVA Family Office LLC lifted its holdings in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Analog Devices during the second quarter worth about $37,000. Finally, New Covenant Trust Company N.A. bought a new position in Analog Devices during the first quarter worth about $40,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Up 2.2 %

ADI stock opened at $235.23 on Wednesday. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The business’s 50 day simple moving average is $227.17 and its 200 day simple moving average is $222.82. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $116.79 billion, a PE ratio of 70.64, a PEG ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the company earned $2.49 earnings per share. The company’s quarterly revenue was down 24.8% on a year-over-year basis. As a group, research analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 110.51%.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,495 shares of company stock worth $20,794,658. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ADI shares. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America cut their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley boosted their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Barclays boosted their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. boosted their price target on Analog Devices from $260.00 to $280.00 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.