Corient Private Wealth LLC Sells 318,414 Shares of Analog Devices, Inc. $ADI

Corient Private Wealth LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 41.4% in the second quarter, HoldingsChannel.com reports. The firm owned 451,252 shares of the semiconductor company’s stock after selling 318,414 shares during the period. Corient Private Wealth LLC’s holdings in Analog Devices were worth $107,407,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC increased its position in shares of Analog Devices by 39.5% during the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after acquiring an additional 529 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its stake in Analog Devices by 17.7% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 45,117 shares of the semiconductor company’s stock valued at $9,098,000 after purchasing an additional 6,783 shares during the last quarter. Corient IA LLC acquired a new position in Analog Devices during the 1st quarter valued at about $343,000. Brooklyn Investment Group increased its holdings in Analog Devices by 27.3% during the 1st quarter. Brooklyn Investment Group now owns 5,714 shares of the semiconductor company’s stock worth $1,152,000 after purchasing an additional 1,226 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its stake in shares of Analog Devices by 10.6% in the first quarter. Aptus Capital Advisors LLC now owns 91,309 shares of the semiconductor company’s stock worth $18,414,000 after purchasing an additional 8,756 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 0.4%

Shares of ADI stock opened at $280.44 on Tuesday. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The firm has a market cap of $137.32 billion, a P/E ratio of 61.50, a PEG ratio of 1.55 and a beta of 1.03. The company has a 50 day moving average of $246.90 and a 200-day moving average of $240.92. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $284.23.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the company earned $1.67 earnings per share. Analog Devices’s revenue was up 25.9% compared to the same quarter last year. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.4%. Analog Devices’s dividend payout ratio (DPR) is 86.84%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total value of $2,349,500.00. Following the sale, the chief executive officer owned 163,640 shares of the company’s stock, valued at $38,447,218. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Michael Sondel sold 8,169 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the sale, the chief accounting officer owned 18,913 shares in the company, valued at $5,258,381.39. The trade was a 30.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 35,419 shares of company stock valued at $8,791,598. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on ADI shares. Cantor Fitzgerald lifted their target price on Analog Devices from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, September 30th. Sanford C. Bernstein restated a “market perform” rating and set a $270.00 price objective on shares of Analog Devices in a research note on Wednesday, November 26th. Stifel Nicolaus set a $280.00 target price on shares of Analog Devices in a research note on Friday, November 21st. Zacks Research downgraded shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, UBS Group raised their price target on shares of Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $283.61.

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.