WASHINGTON TRUST Co Sells 2,226 Shares of Analog Devices, Inc. (NASDAQ:ADI)

WASHINGTON TRUST Co decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,774 shares of the semiconductor company’s stock after selling 2,226 shares during the period. WASHINGTON TRUST Co’s holdings in Analog Devices were worth $23,195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ADI. Miracle Mile Advisors LLC increased its position in Analog Devices by 9.6% during the first quarter. Miracle Mile Advisors LLC now owns 3,386 shares of the semiconductor company’s stock valued at $670,000 after acquiring an additional 296 shares during the last quarter. Norden Group LLC grew its holdings in shares of Analog Devices by 1,534.0% in the first quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company’s stock worth $5,355,000 after purchasing an additional 25,419 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Analog Devices by 4.7% in the first quarter. First Trust Direct Indexing L.P. now owns 13,748 shares of the semiconductor company’s stock worth $2,719,000 after purchasing an additional 616 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Analog Devices by 1.4% in the first quarter. Legacy Wealth Asset Management LLC now owns 5,293 shares of the semiconductor company’s stock worth $1,047,000 after purchasing an additional 71 shares during the last quarter. Finally, Oak Harvest Investment Services grew its holdings in shares of Analog Devices by 1.1% in the first quarter. Oak Harvest Investment Services now owns 39,033 shares of the semiconductor company’s stock worth $7,720,000 after purchasing an additional 442 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the sale, the chief executive officer now directly owns 45,326 shares in the company, valued at $10,376,481.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ADI. Oppenheimer restated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial cut 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. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. 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. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Stock Performance

Shares of Analog Devices stock traded down $3.16 during midday trading on Wednesday, hitting $232.07. The company had a trading volume of 215,400 shares, compared to its average volume of 3,204,490. The stock has a market cap of $115.22 billion, a price-to-earnings ratio of 70.64, a PEG ratio of 3.87 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 fifty day simple moving average of $227.17 and a 200 day simple moving average of $222.82. Analog Devices, Inc. has a 12-month low of $155.16 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating 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 firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the firm posted $2.49 EPS. Analog Devices’s revenue was down 24.8% on a year-over-year basis. As a group, 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 declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 110.51%.

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.