OneDigital Investment Advisors LLC Sells 1,707 Shares of Analog Devices, Inc. (NASDAQ:ADI)

OneDigital Investment Advisors LLC decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,041 shares of the semiconductor company’s stock after selling 1,707 shares during the period. OneDigital Investment Advisors LLC’s holdings in Analog Devices were worth $2,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP bought a new position in shares of Analog Devices in the 3rd quarter valued at about $28,000. New Millennium Group LLC bought a new position in Analog Devices in the second quarter valued at approximately $29,000. ORG Partners LLC boosted its stake in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares during the last quarter. CVA Family Office LLC grew its holdings in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Analog Devices during the 2nd quarter valued at $37,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Down 2.8 %

NASDAQ:ADI opened at $206.35 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $178.66 and a twelve month high of $244.14. The company has a market cap of $102.45 billion, a P/E ratio of 61.97, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The business has a 50 day moving average price of $225.88 and a two-hundred day moving average price of $224.95.

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

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date of this dividend 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 is 110.51%.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices 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 completion of the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. This represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock valued at $25,229,958 in the last 90 days. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ADI has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Truist Financial cut shares of 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 report on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $249.80.

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.