Pinnacle Associates Ltd. Sells 2,010 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Pinnacle Associates Ltd. lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 10.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 17,195 shares of the semiconductor company’s stock after selling 2,010 shares during the period. Pinnacle Associates Ltd.’s holdings in Analog Devices were worth $3,958,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Norden Group LLC increased its position in shares of Analog Devices by 1,534.0% during the 1st quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company’s stock valued at $5,355,000 after purchasing an additional 25,419 shares during the last quarter. FORVIS Wealth Advisors LLC increased its holdings in Analog Devices by 29.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 2,162 shares of the semiconductor company’s stock worth $428,000 after acquiring an additional 491 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Analog Devices by 6.5% in the 1st quarter. J.W. Cole Advisors Inc. now owns 1,086 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 66 shares in the last quarter. Connecticut Wealth Management LLC purchased a new stake in Analog Devices in the 1st quarter worth approximately $201,000. Finally, Resonant Capital Advisors LLC increased its holdings in Analog Devices by 2.5% in the 1st quarter. Resonant Capital Advisors LLC now owns 18,825 shares of the semiconductor company’s stock worth $3,723,000 after acquiring an additional 453 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the transaction, the executive vice president now owns 79,093 shares in the company, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the transaction, the executive vice president now owns 79,093 shares in the company, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,495 shares of company stock worth $18,513,858 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 3.0 %

Shares of ADI opened at $223.11 on Friday. The company has a market cap of $110.77 billion, a PE ratio of 67.00, a P/E/G ratio of 3.87 and a beta of 1.07. The business has a fifty day moving average of $227.24 and a 200 day moving average of $222.87. Analog Devices, Inc. has a 52-week low of $155.16 and a 52-week high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share 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 for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the firm posted $2.49 earnings per share. The business’s revenue was down 24.8% compared to the same quarter last year. On average, sell-side analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.65%. Analog Devices’s payout ratio is 110.51%.

Analyst Upgrades and Downgrades

ADI has been the subject of several analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Morgan Stanley upped their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Bank of America dropped their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Barclays upped their price target on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Six 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.

Analog Devices 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.