Quest Investment Management LLC Cuts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Quest Investment Management LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 29.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,303 shares of the semiconductor company’s stock after selling 3,108 shares during the period. Quest Investment Management LLC’s holdings in Analog Devices were worth $1,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. New Millennium Group LLC acquired a new position in shares of Analog Devices during the second quarter worth $29,000. Riverview Trust Co purchased a new stake in Analog Devices during the 1st quarter worth about $30,000. ORG Partners LLC boosted its position in shares of Analog Devices by 675.0% during the 2nd 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 increased its holdings 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 last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial lowered their price target on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Morgan Stanley lifted their price target 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. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.45.

Analog Devices Trading Down 2.9 %

Shares of Analog Devices stock opened at $226.78 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a market cap of $112.53 billion, a price-to-earnings ratio of 52.99, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company’s 50-day simple moving average is $223.80 and its 200-day simple moving average is $216.26.

Analog Devices (NASDAQ:ADI) last issued its 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 business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the business posted $2.49 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

Insider Buying and Selling

In other 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 value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,495 shares of company stock valued at $7,181,458. 0.31% of the stock is owned by 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.