Comgest Global Investors S.A.S. Sells 174,116 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Comgest Global Investors S.A.S. lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 926,907 shares of the semiconductor company’s stock after selling 174,116 shares during the period. Analog Devices accounts for about 3.1% of Comgest Global Investors S.A.S.’s investment portfolio, making the stock its 15th biggest holding. Comgest Global Investors S.A.S. owned approximately 0.19% of Analog Devices worth $213,346,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices in the third quarter worth about $28,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices in the second quarter worth about $29,000. Archer Investment Corp lifted its position in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC lifted its position in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares in the last quarter. Finally, CVA Family Office LLC lifted its position in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 2.8 %

Shares of ADI traded down $5.89 during midday trading on Friday, hitting $206.35. 3,880,962 shares of the company’s stock traded hands, compared to its average volume of 3,218,283. Analog Devices, Inc. has a 1 year low of $178.66 and a 1 year high of $244.14. The firm’s fifty day moving average is $225.88 and its 200-day moving average is $224.95. 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 market capitalization of $102.45 billion, a price-to-earnings ratio of 61.97, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last issued 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 return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the business posted $2.49 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.78%. Analog Devices’s dividend payout ratio (DPR) is 110.51%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 owns 21,983 shares in the company, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 shares were 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 owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,495 shares of company stock worth $25,229,958 in the last 90 days. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ADI. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and decreased their price objective for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Bank of America decreased their price objective 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price 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.