Parsons Capital Management Inc. RI Sells 72 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Parsons Capital Management Inc. RI trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,682 shares of the semiconductor company’s stock after selling 72 shares during the period. Parsons Capital Management Inc. RI’s holdings in Analog Devices were worth $612,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ADI. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Analog Devices by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after buying an additional 21,522 shares during the last quarter. Point72 Italy S.r.l. bought a new stake in shares of Analog Devices in the 4th quarter valued at about $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in Analog Devices in the 4th quarter valued at about $850,000. Capital International Investors grew its holdings in Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after purchasing an additional 246,799 shares during the period. Finally, Bradley Foster & Sargent Inc. CT increased its position in Analog Devices by 1,055.6% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after buying an additional 208,522 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 0.4 %

NASDAQ ADI traded down $0.95 on Tuesday, hitting $225.00. The company’s stock had a trading volume of 101,322 shares, compared to its average volume of 3,339,420. The company’s 50-day moving average is $227.10 and its 200 day moving average is $210.65. The firm has a market cap of $111.65 billion, a PE ratio of 52.79, a PEG ratio of 3.69 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the business posted $2.83 earnings per share. Analog Devices’s quarterly revenue was down 33.8% on a year-over-year basis. As a group, analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio is presently 85.98%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADI. Truist Financial boosted their target price on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Bank of America upped their price target on shares of Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. TD Cowen boosted their price objective on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Jefferies Financial Group began coverage on shares of Analog Devices in a report on Monday, May 13th. They set a “buy” rating and a $250.00 target price on the stock. Finally, Citigroup increased their price target on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $245.50.

Insider Activity

In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the transaction, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,642 shares of company stock valued at $10,791,543. 0.31% of the stock is currently owned by insiders.

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.