Chevy Chase Trust Holdings LLC Has $61.33 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Chevy Chase Trust Holdings LLC trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 266,453 shares of the semiconductor company’s stock after selling 4,725 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Analog Devices were worth $61,329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADI. FMR LLC lifted its holdings in Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after purchasing an additional 665,149 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after purchasing an additional 700,862 shares during the period. American Century Companies Inc. lifted its stake in shares of Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after buying an additional 767,534 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Analog Devices by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after buying an additional 211,202 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Analog Devices by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock valued at $720,933,000 after buying an additional 171,893 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

NASDAQ:ADI opened at $218.05 on Monday. Analog Devices, Inc. has a twelve month low of $179.63 and a twelve month high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The stock’s 50-day simple moving average is $224.14 and its 200 day simple moving average is $226.03. The firm has a market capitalization of $108.22 billion, a PE ratio of 66.28, a price-to-earnings-growth ratio of 3.36 and a beta of 1.08.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s dividend payout ratio is 111.85%.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the business’s 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 sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This trade represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $24,883,200 in the last quarter. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of several research reports. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. TD Cowen decreased their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Morgan Stanley reduced their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, Truist Financial decreased their price target on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

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.