Wrapmanager Inc. Has $404,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Wrapmanager Inc. reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 7.8% during the third quarter, HoldingsChannel reports. The firm owned 1,757 shares of the semiconductor company’s stock after selling 148 shares during the quarter. Wrapmanager Inc.’s holdings in Analog Devices were worth $404,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Swiss National Bank boosted its position in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after buying an additional 4,600 shares during the period. Summit Global Investments acquired a new stake in Analog Devices during the 3rd quarter worth approximately $867,000. Versor Investments LP acquired a new stake in Analog Devices during the 3rd quarter worth approximately $952,000. Tidal Investments LLC raised its holdings in Analog Devices by 24.9% during the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock worth $6,268,000 after purchasing an additional 6,314 shares during the last quarter. Finally, BDF Gestion bought a new position in Analog Devices during the 2nd quarter worth approximately $4,491,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 21.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,495 shares of company stock valued at $25,229,958. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Morgan Stanley lifted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Price Performance

ADI opened at $209.65 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The company has a market capitalization of $104.09 billion, a price-to-earnings ratio of 62.96, a P/E/G ratio of 2.89 and a beta of 1.08. The firm’s fifty day moving average price is $225.70 and its two-hundred day moving average price is $225.44. Analog Devices, Inc. has a 1 year low of $179.44 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data 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 firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.49 EPS. As a group, analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 110.51%.

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.