Simplicity Wealth LLC Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Simplicity Wealth LLC decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 93.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,176 shares of the semiconductor company’s stock after selling 18,208 shares during the quarter. Simplicity Wealth LLC’s holdings in Analog Devices were worth $271,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ADI. New Millennium Group LLC acquired a new position in Analog Devices in the 2nd quarter valued at $29,000. Riverview Trust Co purchased a new stake in shares of Analog Devices during the 1st quarter worth $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 purchasing an additional 135 shares in the last quarter. CVA Family Office LLC boosted its position 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 worth $36,000 after buying an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Analog Devices in the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 directly owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 directly owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at $879,365.43. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,495 shares of company stock valued at $20,794,658. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Oppenheimer reissued an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Morgan Stanley upped their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Stock Up 1.5 %

Shares of Analog Devices stock opened at $236.43 on Tuesday. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The business has a 50-day moving average of $224.40 and a two-hundred day moving average of $220.34. The company has a market capitalization of $117.32 billion, a P/E ratio of 55.24, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. 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 posted its quarterly earnings data 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. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period last year, the company earned $2.49 earnings per share. As a group, equities analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.56%. Analog Devices’s payout ratio is currently 85.98%.

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.