Beverly Hills Private Wealth LLC Sells 365 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Beverly Hills Private Wealth LLC cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.2% in the second quarter, Holdings Channel reports. The institutional investor owned 4,106 shares of the semiconductor company’s stock after selling 365 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Analog Devices were worth $937,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADI. Point72 Italy S.r.l. bought a new position in shares of Analog Devices during the 4th quarter worth approximately $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in Analog Devices in the 4th quarter valued at $850,000. Capital International Investors boosted its stake in shares of Analog Devices by 5.8% during the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after buying an additional 246,799 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its position in shares of Analog Devices by 1,055.6% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock valued at $45,326,000 after acquiring an additional 208,522 shares during the last quarter. Finally, Profund Advisors LLC raised its holdings in Analog Devices by 16.2% during the fourth quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock worth $14,365,000 after acquiring an additional 10,106 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward H. Frank sold 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,495 shares of company stock valued at $7,181,458. 0.31% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

NASDAQ ADI opened at $225.07 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The stock has a market cap of $111.68 billion, a PE ratio of 52.59, a PEG ratio of 3.55 and a beta of 1.07. The firm’s fifty day moving average price is $224.97 and its two-hundred day moving average price is $214.58.

Analog Devices (NASDAQ:ADI) last announced 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 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 firm posted $2.49 earnings per share. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, equities analysts expect that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

Analysts Set New Price Targets

ADI has been the topic of a number of analyst reports. Truist Financial dropped their price objective on Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. KeyCorp raised their target price on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Morgan Stanley boosted their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $251.45.

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.