Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,505,666 shares of the semiconductor company’s stock after selling 5,864 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Analog Devices were worth $488,129,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Concord Wealth Partners grew its stake in Analog Devices by 107.9% during the 2nd quarter. Concord Wealth Partners now owns 131 shares of the semiconductor company’s stock worth $26,000 after buying an additional 68 shares during the last quarter. Silicon Valley Capital Partners purchased a new position in Analog Devices during the 1st quarter worth approximately $27,000. Magellan Asset Management Ltd purchased a new position in Analog Devices during the 1st quarter worth approximately $30,000. Duncker Streett & Co. Inc. grew its stake in shares of Analog Devices by 66.3% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 153 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 61 shares during the last quarter. Finally, Archer Investment Corp purchased a new position in shares of Analog Devices in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 85.55% of the company’s stock.

Analog Devices Price Performance

ADI stock opened at $180.78 on Thursday. The stock has a 50-day moving average price of $171.48 and a two-hundred day moving average price of $180.80. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $200.10. The company has a current ratio of 1.71, a quick ratio of 1.10 and a debt-to-equity ratio of 0.18. The company has a market cap of $90.08 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 2.12 and a beta of 1.16.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.03). Analog Devices had a net margin of 29.23% and a return on equity of 15.20%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the firm posted $2.52 EPS. Analog Devices’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts predict that Analog Devices, Inc. will post 10.12 EPS for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, September 5th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, September 1st. Analog Devices’s dividend payout ratio (DPR) is presently 46.74%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $182.60, for a total value of $1,826,000.00. Following the completion of the sale, the chief executive officer now owns 70,713 shares of the company’s stock, valued at $12,912,193.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

ADI has been the topic of several analyst reports. Piper Sandler downgraded Analog Devices from an “overweight” rating to a “neutral” rating and set a $190.00 target price on the stock. in a research note on Thursday, August 24th. The Goldman Sachs Group lowered their target price on Analog Devices from $204.00 to $188.00 and set a “buy” rating on the stock in a research note on Wednesday, August 23rd. Morgan Stanley lowered their target price on Analog Devices from $185.00 to $176.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. StockNews.com began coverage on Analog Devices in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Robert W. Baird decreased their price target on Analog Devices from $235.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, August 24th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $203.42.

About Analog Devices

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 that include performance, integration, and software design simulation tools for accurate power supply designs.