Orion Porfolio Solutions LLC Cuts Stock Position in Analog Devices, Inc. $ADI

Orion Porfolio Solutions LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.4% during the second quarter, HoldingsChannel reports. The fund owned 47,574 shares of the semiconductor company’s stock after selling 2,705 shares during the period. Orion Porfolio Solutions LLC’s holdings in Analog Devices were worth $11,324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Baader Bank Aktiengesellschaft increased its position in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock worth $270,000 after buying an additional 43 shares in the last quarter. Bennett Associates Wealth Management lifted its position in Analog Devices by 2.9% during the second quarter. Bennett Associates Wealth Management now owns 1,624 shares of the semiconductor company’s stock worth $387,000 after buying an additional 46 shares during the period. Solstein Capital LLC boosted its stake in Analog Devices by 2.0% in the 2nd quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock worth $549,000 after buying an additional 46 shares during the last quarter. Keystone Financial Services boosted its stake in Analog Devices by 1.2% in the 2nd quarter. Keystone Financial Services now owns 3,837 shares of the semiconductor company’s stock worth $913,000 after buying an additional 46 shares during the last quarter. Finally, EFG Asset Management North America Corp. grew its holdings in Analog Devices by 0.3% in the 1st quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company’s stock valued at $2,866,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ADI shares. BNP Paribas Exane initiated coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. Evercore ISI decreased their price objective on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. Finally, Truist Financial lifted their target price on Analog Devices from $249.00 to $258.00 and gave the stock a “hold” rating in a research report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.61.

Analog Devices Stock Down 1.4%

Analog Devices stock opened at $279.32 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $284.23. The company has a 50-day simple moving average of $246.14 and a 200-day simple moving average of $240.47. The firm has a market capitalization of $136.77 billion, a P/E ratio of 61.25, a P/E/G ratio of 1.55 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be given a $0.99 dividend. The ex-dividend date is Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.4%. Analog Devices’s payout ratio is 86.84%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total value of $2,349,500.00. Following the completion of the transaction, the chief executive officer owned 163,640 shares in the company, valued at $38,447,218. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the sale, the director owned 142,571 shares of the company’s stock, valued at approximately $32,821,269.91. This trade represents a 2.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 35,419 shares of company stock worth $8,791,598 over the last three months. Corporate insiders own 0.33% 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.