DRW Securities LLC Trims Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

DRW Securities LLC trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI) by 67.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,342 shares of the semiconductor company’s stock after selling 2,810 shares during the period. DRW Securities LLC’s holdings in Analog Devices were worth $309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in Analog Devices during the third quarter worth approximately $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices during the second quarter worth approximately $29,000. Archer Investment Corp increased its holdings in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares during the period. ORG Partners LLC raised its position in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, CVA Family Office LLC boosted its stake in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

NASDAQ ADI opened at $217.17 on Thursday. The business has a 50 day moving average price of $224.64 and a 200 day moving average price of $225.86. 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 $107.82 billion, a P/E ratio of 65.22, a PEG ratio of 3.15 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $179.63 and a 1-year high of $244.14.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of recent research reports. TD Cowen dropped their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial dropped their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research report on Wednesday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Morgan Stanley dropped their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.33.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now directly owns 79,093 shares in the company, valued at approximately $18,106,760.49. The trade was a 27.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock valued at $24,883,200. Insiders own 0.31% of the company’s stock.

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.