Main Street Financial Solutions LLC Sells 168 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Main Street Financial Solutions LLC cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 12.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,215 shares of the semiconductor company’s stock after selling 168 shares during the period. Main Street Financial Solutions LLC’s holdings in Analog Devices were worth $277,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ADI. Private Wealth Management Group LLC bought a new position in shares of Analog Devices in the fourth quarter worth about $29,000. New Millennium Group LLC bought a new position in shares of Analog Devices in the second quarter worth about $29,000. Riverview Trust Co bought a new position in shares of Analog Devices in the first quarter worth about $30,000. ORG Partners LLC grew its holdings in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares in the last quarter. Finally, CVA Family Office LLC grew its holdings in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADI. JPMorgan Chase & Co. increased 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. Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley increased 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. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Robert W. Baird increased their target price on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $251.45.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,495 shares of company stock worth $7,181,458. 0.31% of the stock is owned by company insiders.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $225.42 on Friday. The firm has a market capitalization of $111.92 billion, a P/E ratio of 52.67, a PEG ratio of 3.74 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $224.69 and a 200 day moving average price of $214.88. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company earned $2.49 EPS. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. Sell-side analysts expect that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $0.92 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.63%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

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.