Gulf International Bank UK Ltd Sells 1,729 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Gulf International Bank UK Ltd lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,265 shares of the semiconductor company’s stock after selling 1,729 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Analog Devices were worth $8,807,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norden Group LLC raised its position in shares of Analog Devices by 15.6% in the 1st quarter. Norden Group LLC now owns 1,915 shares of the semiconductor company’s stock valued at $379,000 after acquiring an additional 258 shares during the period. Financial Counselors Inc. raised its position in shares of Analog Devices by 8.2% in the 1st quarter. Financial Counselors Inc. now owns 3,773 shares of the semiconductor company’s stock valued at $746,000 after acquiring an additional 287 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Analog Devices by 5.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,208 shares of the semiconductor company’s stock valued at $635,000 after acquiring an additional 168 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Analog Devices in the 1st quarter valued at approximately $248,000. Finally, Callan Capital LLC raised its position in shares of Analog Devices by 3.6% in the 1st quarter. Callan Capital LLC now owns 1,868 shares of the semiconductor company’s stock valued at $369,000 after acquiring an additional 65 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction 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 sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was 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 available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,495 shares of company stock valued at $22,991,258. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Trading Down 0.6 %

Shares of Analog Devices stock opened at $224.19 on Tuesday. The business has a fifty day simple moving average of $227.16 and a two-hundred day simple moving average of $223.83. Analog Devices, Inc. has a 1 year low of $165.59 and a 1 year high of $244.14. The company has a market capitalization of $111.31 billion, a price-to-earnings ratio of 67.32, a P/E/G ratio of 3.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm posted $2.49 EPS. The company’s quarterly revenue was down 24.8% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 110.51%.

Analyst Ratings Changes

Several analysts have commented on ADI shares. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Morgan Stanley raised their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Barclays raised their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.