Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 50.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,161 shares of the semiconductor company’s stock after selling 12,163 shares during the period. Beacon Pointe Advisors LLC’s holdings in Analog Devices were worth $1,775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bluestein R H & Co. LLC raised its position in shares of Analog Devices by 158.3% during the 2nd quarter. Bluestein R H & Co. LLC now owns 219,550 shares of the semiconductor company’s stock valued at $32,074,000 after acquiring an additional 134,544 shares in the last quarter. AlphaCrest Capital Management LLC grew its stake in Analog Devices by 250.4% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 24,438 shares of the semiconductor company’s stock worth $3,570,000 after buying an additional 17,464 shares during the last quarter. Cetera Investment Advisers grew its stake in Analog Devices by 5.7% during the 2nd quarter. Cetera Investment Advisers now owns 16,561 shares of the semiconductor company’s stock worth $2,419,000 after buying an additional 888 shares during the last quarter. Cetera Advisors LLC grew its stake in Analog Devices by 6.8% during the 2nd quarter. Cetera Advisors LLC now owns 7,993 shares of the semiconductor company’s stock worth $1,168,000 after buying an additional 512 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its stake in Analog Devices by 31.6% during the 2nd quarter. Checchi Capital Advisers LLC now owns 7,852 shares of the semiconductor company’s stock worth $1,350,000 after buying an additional 1,886 shares during the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Tunc Doluca sold 1,700 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $160.00, for a total value of $272,000.00. Following the completion of the sale, the director now directly owns 68,657 shares of the company’s stock, valued at approximately $10,985,120. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.

Analog Devices Trading Up 0.5 %

Shares of NASDAQ ADI opened at $169.20 on Thursday. Analog Devices, Inc. has a 12 month low of $133.48 and a 12 month high of $188.20. The company has a market cap of $87.03 billion, a price-to-earnings ratio of 46.77, a P/E/G ratio of 1.38 and a beta of 1.11. The company has a quick ratio of 1.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $147.66 and a 200-day simple moving average of $154.99.

Analog Devices (NASDAQ:ADIGet Rating) last announced its earnings results on Tuesday, November 22nd. The semiconductor company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.58 by $0.15. Analog Devices had a return on equity of 11.92% and a net margin of 17.00%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the business posted $1.73 earnings per share. Analog Devices’s revenue was up 38.8% compared to the same quarter last year. Sell-side analysts predict that Analog Devices, Inc. will post 9.43 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, December 5th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, December 2nd. Analog Devices’s dividend payout ratio is currently 83.98%.

Analysts Set New Price Targets

A number of research analysts recently commented on ADI shares. StockNews.com started coverage on Analog Devices in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Oppenheimer restated an “outperform” rating and set a $210.00 price objective on shares of Analog Devices in a research note on Friday, November 18th. Robert W. Baird reissued an “outperform” rating and issued a $220.00 price target on shares of Analog Devices in a research note on Friday, August 19th. Evercore ISI increased their price target on Analog Devices from $185.00 to $195.00 in a research note on Wednesday. Finally, Cowen increased their price target on Analog Devices from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.65.

About Analog Devices

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

Further Reading

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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