Deroy & Devereaux Private Investment Counsel Inc. Decreases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

by · The Cerbat Gem

Deroy & Devereaux Private Investment Counsel Inc. lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,960 shares of the semiconductor company’s stock after selling 100 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Analog Devices were worth $451,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ADI. New Millennium Group LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at approximately $29,000. ORG Partners LLC raised its stake in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the period. CVA Family Office LLC increased its holdings in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Analog Devices in the 2nd quarter worth about $37,000. Finally, Trifecta Capital Advisors LLC raised its stake in Analog Devices by 544.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 158 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $223.11 on Friday. The firm has a market capitalization of $110.77 billion, a PE ratio of 67.00, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. 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 $155.16 and a 12 month high of $244.14. The business’s 50-day moving average price is $227.24 and its 200-day moving average price is $222.87.

Analog Devices (NASDAQ:ADI – Get Free Report) last issued its quarterly earnings results 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 net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business earned $2.49 earnings per share. The business’s quarterly revenue was down 24.8% on a year-over-year basis. Sell-side analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.65%. Analog Devices’s dividend payout ratio is currently 110.51%.

Insider Activity

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at $18,106,760.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,495 shares of company stock valued at $18,513,858. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note 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 note on Tuesday, October 8th. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley increased their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.80.

Check Out Our Latest Stock Report on ADI

About Analog Devices

(Free Report)

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.

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