Pathway Financial Advisors LLC Cuts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Pathway Financial Advisors LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,747 shares of the semiconductor company’s stock after selling 150 shares during the quarter. Pathway Financial Advisors LLC’s holdings in Analog Devices were worth $402,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ADI. Baader Bank Aktiengesellschaft raised its position in Analog Devices by 3.9% in 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. CVA Family Office LLC raised its position in Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Legacy Financial Advisors Inc. raised its position in 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 acquiring an additional 48 shares in the last quarter. SouthState Corp raised its position in Analog Devices by 28.6% in the second quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 50 shares in the last quarter. Finally, Investment Partners LTD. raised its position in Analog Devices by 2.9% in the second quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock worth $399,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ADI. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Oppenheimer reissued an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Morgan Stanley upped their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Six research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Stock Up 1.3 %

Shares of NASDAQ:ADI opened at $229.40 on Wednesday. The stock’s 50-day moving average price is $222.81 and its two-hundred day moving average price is $218.94. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The firm has a market cap of $113.83 billion, a price-to-earnings ratio of 53.60, a PEG ratio of 3.75 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its quarterly 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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned $2.49 EPS. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. On average, research analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Insiders Place Their Bets

In other news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,495 shares of company stock valued at $20,794,658. Insiders own 0.31% of the company’s stock.

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.