Resources Management Corp CT ADV Sells 325 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Resources Management Corp CT ADV decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,080 shares of the semiconductor company’s stock after selling 325 shares during the period. Resources Management Corp CT ADV’s holdings in Analog Devices were worth $3,214,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Interval Partners LP increased its position in shares of Analog Devices by 27.6% during the second quarter. Interval Partners LP now owns 12,762 shares of the semiconductor company’s stock worth $2,913,000 after acquiring an additional 2,762 shares in the last quarter. Bank of Montreal Can increased its position in shares of Analog Devices by 5.1% during the second quarter. Bank of Montreal Can now owns 697,961 shares of the semiconductor company’s stock worth $159,317,000 after acquiring an additional 34,144 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Analog Devices by 13.8% during the second quarter. Evergreen Capital Management LLC now owns 4,570 shares of the semiconductor company’s stock worth $1,043,000 after acquiring an additional 553 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Analog Devices by 68.2% during the second quarter. Public Sector Pension Investment Board now owns 19,012 shares of the semiconductor company’s stock worth $4,340,000 after acquiring an additional 7,710 shares in the last quarter. Finally, Nippon Life Global Investors Americas Inc. bought a new stake in shares of Analog Devices during the second quarter worth $1,102,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI opened at $226.01 on Tuesday. The firm has a 50-day moving average of $223.56 and a 200-day moving average of $216.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock has a market cap of $112.15 billion, a PE ratio of 52.81, a P/E/G 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.

Analog Devices (NASDAQ:ADI) last posted 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. The company had revenue of $2.31 billion during 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%. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.49 EPS. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,495 shares of company stock worth $7,181,458. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADI. Morgan Stanley increased their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their target price for the company from $266.00 to $233.00 in a research report on Monday. Bank of America decreased 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. Finally, JPMorgan Chase & Co. raised 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. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus 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.