Hemenway Trust Co LLC Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Hemenway Trust Co LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 186,464 shares of the semiconductor company’s stock after selling 3,919 shares during the quarter. Analog Devices makes up 3.4% of Hemenway Trust Co LLC’s portfolio, making the stock its 9th biggest position. Hemenway Trust Co LLC’s holdings in Analog Devices were worth $42,919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares in the last quarter. Capital International Investors raised its position in shares of Analog Devices by 14.3% in the 1st quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after purchasing an additional 644,945 shares during the last quarter. Van ECK Associates Corp boosted its stake in Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after purchasing an additional 700,862 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after purchasing an additional 767,534 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADI. Barclays raised their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley raised their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned 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 target price of $249.80.

Analog Devices Trading Down 0.3 %

Shares of ADI traded down $0.71 during mid-day trading on Tuesday, reaching $219.76. The stock had a trading volume of 18,297 shares, compared to its average volume of 3,197,162. Analog Devices, Inc. has a 52-week low of $170.10 and a 52-week high of $244.14. The firm has a market cap of $109.11 billion, a price-to-earnings ratio of 66.21, a P/E/G ratio of 3.17 and a beta of 1.08. The business’s fifty day moving average is $226.32 and its 200 day moving average is $224.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.49 EPS. On average, sell-side analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors 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 1.67%. Analog Devices’s dividend payout ratio is presently 110.51%.

Insider Buying and Selling

In other news, Director Edward H. Frank sold 995 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, 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 value of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now owns 4,748 shares in the company, valued at $1,078,935.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,495 shares of company stock valued at $25,229,958. Corporate insiders own 0.31% of the company’s stock.

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.