Reynders McVeigh Capital Management LLC Trims Stake in Analog Devices, Inc. (NASDAQ:ADI)

Reynders McVeigh Capital Management LLC decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 257,494 shares of the semiconductor company’s stock after selling 1,188 shares during the period. Analog Devices comprises about 3.1% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 7th largest holding. Reynders McVeigh Capital Management LLC’s holdings in Analog Devices were worth $59,267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the 3rd quarter worth approximately $28,000. New Millennium Group LLC bought a new position in Analog Devices during the 2nd quarter worth $29,000. Archer Investment Corp increased its position in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the period. ORG Partners LLC lifted 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 buying an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices during the second quarter valued at $37,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADI has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Truist Financial decreased their target price on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Piper Sandler cut their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. increased their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Stock Performance

ADI opened at $221.54 on Wednesday. The business’s 50-day moving average price is $223.97 and its two-hundred day moving average price is $226.15. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a 1 year low of $179.63 and a 1 year high of $244.14. The company has a market capitalization of $109.95 billion, a price-to-earnings ratio of 67.34, a P/E/G ratio of 2.54 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the company posted $2.01 EPS. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. Equities analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.66%. 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 firm’s stock in a transaction dated 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. This trade represents a 25.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the transaction, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. The trade was a 18.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock valued at $22,596,300 over the last three months. 0.31% of the stock is owned by insiders.

Analog Devices 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.