Ledyard National Bank Sells 166 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Ledyard National Bank reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.7% in the third quarter, HoldingsChannel.com reports. The fund owned 2,768 shares of the semiconductor company’s stock after selling 166 shares during the quarter. Ledyard National Bank’s holdings in Analog Devices were worth $637,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft boosted its stake in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after acquiring an additional 43 shares in the last quarter. Grove Bank & Trust lifted its position in Analog Devices by 3.1% during the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after purchasing an additional 43 shares during the period. CVA Family Office LLC increased 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 valued at $36,000 after buying an additional 45 shares during the last quarter. Legacy Financial Advisors Inc. increased its stake in shares of Analog Devices by 1.4% in the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 48 shares in the last quarter. Finally, Quotient Wealth Partners LLC increased its stake in shares of Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 48 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 transaction, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction 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 completion of the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. This trade 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 valued at $20,794,658. 0.31% of the stock is owned by corporate insiders.

Analog Devices Trading Down 0.5 %

Shares of ADI stock opened at $224.62 on Wednesday. The company has a 50-day moving average of $226.36 and a two-hundred day moving average of $221.66. 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, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The firm has a market cap of $111.46 billion, a PE ratio of 52.48, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s revenue was down 24.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 dividend on an annualized basis and a yield of 1.64%. Analog Devices’s payout ratio is currently 85.98%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ADI shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Bank of America reduced their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Truist Financial downgraded shares of 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.