Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by APG Asset Management US Inc.

APG Asset Management US Inc. reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,987 shares of the semiconductor company’s stock after selling 11,744 shares during the quarter. APG Asset Management US Inc.’s holdings in Analog Devices were worth $31,522,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ADI. Baader Bank Aktiengesellschaft grew its stake in Analog Devices by 3.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after buying an additional 43 shares during the last quarter. CVA Family Office LLC increased its holdings in shares of 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 acquiring an additional 45 shares in the last quarter. Legacy Financial Advisors Inc. raised its position in shares of Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after purchasing an additional 48 shares during the last quarter. SouthState Corp boosted its stake in Analog Devices by 28.6% in the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 50 shares in the last quarter. Finally, Investment Partners LTD. boosted its stake in Analog Devices by 2.9% in the 2nd quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock worth $399,000 after purchasing an additional 50 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $226.64 on Thursday. The firm has a market cap of $112.52 billion, a PE ratio of 52.95, a P/E/G ratio of 3.75 and a beta of 1.07. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month 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. The business has a 50-day moving average price of $223.24 and a 200 day moving average price of $216.85.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating 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 analysts’ expectations of $2.27 billion. During the same period in the previous year, the business earned $2.49 earnings per share. The business’s revenue was down 24.8% compared to the same quarter last year. Sell-side analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal 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. 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 85.98%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The disclosure for this sale can be found here. Insiders have sold a total of 31,495 shares of company stock worth $7,181,458 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADI. Barclays raised their price target on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Morgan Stanley raised their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, July 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.