Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 183,777 shares of the semiconductor company’s stock after buying an additional 287 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Analog Devices were worth $42,210,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Norden Group LLC increased its stake in shares of Analog Devices by 1,534.0% during the first quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company’s stock worth $5,355,000 after buying an additional 25,419 shares during the period. Tidal Investments LLC grew its stake in shares of Analog Devices by 24.9% during the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock worth $6,268,000 after purchasing an additional 6,314 shares in the last quarter. BDF Gestion purchased a new position in Analog Devices in the second quarter valued at $4,491,000. Envestnet Portfolio Solutions Inc. raised its stake in Analog Devices by 3.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock valued at $16,912,000 after buying an additional 2,280 shares in the last quarter. Finally, Interval Partners LP purchased a new stake in Analog Devices during the 1st quarter worth about $1,978,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ADI shares. Bank of America cut their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Morgan Stanley upped their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Barclays lifted their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Six 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, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded down $3.39 during midday trading on Wednesday, hitting $231.84. The stock had a trading volume of 54,083 shares, compared to its average volume of 3,203,721. Analog Devices, Inc. has a 1 year low of $155.16 and a 1 year high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $227.17 and a two-hundred day moving average price of $222.82. The company has a market capitalization of $115.11 billion, a PE ratio of 70.64, a P/E/G ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.49 EPS. As a group, equities analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 110.51%.

Insider Buying and Selling at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were 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 owns 79,093 shares in the company, valued at $18,106,760.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were 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 owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is owned by company insiders.

About Analog Devices

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.