Carret Asset Management LLC Sells 70 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Carret Asset Management LLC lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,450 shares of the semiconductor company’s stock after selling 70 shares during the period. Carret Asset Management LLC’s holdings in Analog Devices were worth $1,929,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADI. USA Financial Formulas increased its position in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Private Wealth Management Group LLC acquired a new stake in Analog Devices in the fourth quarter worth about $29,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices during the second quarter worth about $29,000. Riverview Trust Co purchased a new position in shares of Analog Devices in the 1st quarter valued at approximately $30,000. Finally, ORG Partners LLC boosted its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Truist Financial decreased their price objective on shares of Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company 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, July 16th. TD Cowen boosted their target price on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, UBS Group lifted their price objective on Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices 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 directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now 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 sold 39,107 shares of company stock worth $9,014,710 over the last 90 days. 0.31% of the stock is owned by insiders.

Analog Devices Trading Up 1.7 %

Shares of Analog Devices stock traded up $3.95 during mid-day trading on Monday, hitting $234.84. The stock had a trading volume of 2,771,000 shares, compared to its average volume of 3,366,937. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-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 firm has a market cap of $116.60 billion, a P/E ratio of 54.87, a price-to-earnings-growth ratio of 3.91 and a beta of 1.08. The firm has a 50-day moving average of $226.06 and a two-hundred day moving average of $212.98.

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, beating the consensus estimate 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 return on equity of 9.47% and a net margin of 17.07%. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.49 EPS. Sell-side analysts forecast that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $0.92 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.57%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

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.