Prime Capital Investment Advisors LLC Decreases Position in Analog Devices, Inc. (NASDAQ:ADI)

Prime Capital Investment Advisors LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 18,367 shares of the semiconductor company’s stock after selling 675 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Analog Devices were worth $4,228,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ADI. Atomi Financial Group Inc. purchased a new stake in shares of Analog Devices during the first quarter worth approximately $215,000. Koshinski Asset Management Inc. grew its holdings in shares of Analog Devices by 20.6% during the first quarter. Koshinski Asset Management Inc. now owns 4,266 shares of the semiconductor company’s stock worth $844,000 after buying an additional 729 shares in the last quarter. TD Asset Management Inc raised its position in shares of Analog Devices by 2.1% in the first quarter. TD Asset Management Inc now owns 436,136 shares of the semiconductor company’s stock valued at $86,263,000 after buying an additional 8,897 shares during the last quarter. Eagle Bay Advisors LLC raised its position in shares of Analog Devices by 27.0% in the first quarter. Eagle Bay Advisors LLC now owns 348 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 74 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of Analog Devices by 0.3% in the first quarter. First Eagle Investment Management LLC now owns 3,847,087 shares of the semiconductor company’s stock worth $760,915,000 after buying an additional 10,203 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 0.4 %

ADI opened at $219.55 on Wednesday. Analog Devices, Inc. has a 52 week low of $170.10 and a 52 week high of $244.14. 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 business has a fifty day simple moving average of $226.32 and a 200-day simple moving average of $224.99. The firm has a market cap of $109.00 billion, a P/E ratio of 65.93, a P/E/G ratio of 3.17 and a beta of 1.08.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Analyst Ratings Changes

A number of analysts have commented on ADI shares. Bank of America cut their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Oppenheimer reissued an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley upped their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Barclays lifted their price target on 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 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 target price of $249.80.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’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 sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock worth $25,229,958 in the last ninety days. 0.31% of the stock is owned by corporate insiders.

Analog Devices 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.