Chevy Chase Trust Holdings LLC Sells 4,725 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Chevy Chase Trust Holdings LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 266,453 shares of the semiconductor company’s stock after selling 4,725 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Analog Devices worth $61,329,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in Analog Devices during the 3rd quarter worth about $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth approximately $29,000. Archer Investment Corp grew its position in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the period. ORG Partners LLC raised its stake in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares during the last quarter. Finally, CVA Family Office LLC lifted its holdings in Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,000 shares of company stock worth $24,883,200. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADI. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. TD Cowen dropped their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company began coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, Oppenheimer reissued an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Stock Up 0.4 %

NASDAQ:ADI opened at $218.05 on Monday. The stock has a 50-day simple moving average of $224.14 and a 200 day simple moving average of $226.03. Analog Devices, Inc. has a 52-week low of $179.63 and a 52-week high of $244.14. The company has a market cap of $108.22 billion, a PE ratio of 66.28, a PEG ratio of 3.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.84.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

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.