Beacon Investment Advisory Services Inc. Sells 4,749 Shares of Analog Devices, Inc. $ADI

Beacon Investment Advisory Services Inc. lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,858 shares of the semiconductor company’s stock after selling 4,749 shares during the period. Analog Devices makes up approximately 1.5% of Beacon Investment Advisory Services Inc.’s investment portfolio, making the stock its 17th biggest position. Beacon Investment Advisory Services Inc.’s holdings in Analog Devices were worth $35,100,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Vanguard Group Inc. boosted its holdings in shares of Analog Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after purchasing an additional 761,861 shares during the period. State Street Corp lifted its position in Analog Devices by 2.2% in the second quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock worth $5,549,973,000 after buying an additional 506,507 shares during the last quarter. Geode Capital Management LLC boosted its stake in Analog Devices by 5.7% during the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after buying an additional 633,425 shares during the period. Norges Bank purchased a new position in Analog Devices during the second quarter worth $1,803,377,000. Finally, Ameriprise Financial Inc. increased its position in Analog Devices by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock valued at $1,506,448,000 after acquiring an additional 375,207 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ADI. Cfra restated a “buy” rating and issued a $280.00 target price on shares of Analog Devices in a report on Tuesday, November 25th. Sanford C. Bernstein reissued a “market perform” rating and issued a $270.00 price objective on shares of Analog Devices in a research report on Wednesday, November 26th. Benchmark reissued a “buy” rating and issued a $285.00 price objective on shares of Analog Devices in a research note on Wednesday, November 26th. Truist Financial boosted their target price on Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a research report on Friday, December 19th. Finally, Wells Fargo & Company increased their price target on Analog Devices from $250.00 to $265.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $287.22.

Analog Devices Price Performance

Shares of ADI stock opened at $276.84 on Friday. The company has a market capitalization of $135.55 billion, a P/E ratio of 60.71, a P/E/G ratio of 1.53 and a beta of 1.04. The company’s 50-day simple moving average is $254.03 and its two-hundred day simple moving average is $244.18. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $284.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

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

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio is currently 86.84%.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.71, for a total value of $2,437,100.00. Following the completion of the sale, the chief executive officer directly owned 140,118 shares of the company’s stock, valued at $34,148,157.78. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the transaction, the director directly owned 5,118 shares in the company, valued at $1,242,343.32. This trade represents a 16.35% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 40,419 shares of company stock worth $10,249,017. Insiders own 0.33% of the company’s stock.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.