Amalgamated Bank Sells 390 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Amalgamated Bank trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,786 shares of the semiconductor company’s stock after selling 390 shares during the quarter. Amalgamated Bank’s holdings in Analog Devices were worth $22,968,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Swedbank AB bought a new position in Analog Devices in the 1st quarter worth approximately $537,171,000. Vanguard Group Inc. boosted its stake in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after acquiring an additional 1,753,536 shares during the last quarter. Raymond James & Associates boosted its position in shares of Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after acquiring an additional 1,422,054 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Analog Devices by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 20,000 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 $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the sale, the executive vice president now directly owns 79,093 shares in the company, valued at $18,106,760.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,495 shares of company stock valued at $22,991,258 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of research reports. Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and decreased their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Morgan Stanley increased their price target 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 increased their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Price Performance

Shares of ADI stock opened at $224.19 on Tuesday. Analog Devices, Inc. has a 1-year low of $165.59 and a 1-year high of $244.14. The stock’s 50-day moving average is $227.16 and its 200 day moving average is $223.83. The company has a market cap of $111.31 billion, a P/E ratio of 67.32, a PEG ratio of 3.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the company earned $2.49 earnings per share. Research analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 110.51%.

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.