Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Walleye Capital LLC

Walleye Capital LLC lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 64.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,473 shares of the semiconductor company’s stock after selling 8,017 shares during the quarter. Walleye Capital LLC’s holdings in Analog Devices were worth $739,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Gradient Investments LLC raised its stake in Analog Devices by 10.8% during the 1st quarter. Gradient Investments LLC now owns 80,403 shares of the semiconductor company’s stock valued at $13,281,000 after acquiring an additional 7,834 shares in the last quarter. Ninety One UK Ltd bought a new stake in Analog Devices during the 1st quarter valued at $66,552,000. Fortitude Advisory Group L.L.C. raised its stake in Analog Devices by 39.4% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,054 shares of the semiconductor company’s stock valued at $174,000 after acquiring an additional 298 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Analog Devices by 14.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,382 shares of the semiconductor company’s stock valued at $394,000 after acquiring an additional 294 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in Analog Devices by 0.7% during the 1st quarter. Advisory Services Network LLC now owns 19,482 shares of the semiconductor company’s stock valued at $3,218,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 85.22% of the company’s stock.

Insider Activity

In other Analog Devices news, Director Tunc Doluca sold 2,400 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $150.00, for a total value of $360,000.00. Following the transaction, the director now owns 86,357 shares in the company, valued at $12,953,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Analog Devices news, SVP Vivek Jain sold 14,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $165.63, for a total value of $2,318,820.00. Following the transaction, the senior vice president now owns 18,271 shares in the company, valued at $3,026,225.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tunc Doluca sold 2,400 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $150.00, for a total value of $360,000.00. Following the completion of the transaction, the director now owns 86,357 shares in the company, valued at approximately $12,953,550. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,700 shares of company stock worth $8,827,200. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ADI shares. Raymond James cut their target price on Analog Devices from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, August 18th. Citigroup boosted their price objective on Analog Devices from $192.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. Needham & Company LLC downgraded Analog Devices from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Piper Sandler dropped their price objective on Analog Devices from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, August 18th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $220.00 price objective on shares of Analog Devices in a research note on Friday, August 19th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $195.53.

Analog Devices Stock Performance

Shares of ADI stock opened at $149.78 on Wednesday. Analog Devices, Inc. has a 1-year low of $138.50 and a 1-year high of $191.95. The company has a current ratio of 1.92, a quick ratio of 1.43 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $77.04 billion, a price-to-earnings ratio of 41.33, a P/E/G ratio of 1.29 and a beta of 1.16. The stock’s fifty day simple moving average is $161.96 and its 200-day simple moving average is $158.62.

Analog Devices (NASDAQ:ADIGet Rating) last issued its quarterly earnings results on Wednesday, August 17th. The semiconductor company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Analog Devices had a return on equity of 11.92% and a net margin of 17.00%. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. Analog Devices’s revenue for the quarter was up 76.8% compared to the same quarter last year. On average, sell-side analysts predict that Analog Devices, Inc. will post 9.42 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Tuesday, August 30th were issued a dividend of $0.76 per share. The ex-dividend date was Monday, August 29th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.03%. Analog Devices’s dividend payout ratio is 83.98%.

Analog Devices Profile

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

Further Reading

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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