Pendal Group Ltd Sells 2,274 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Pendal Group Ltd lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,462 shares of the semiconductor company’s stock after selling 2,274 shares during the period. Pendal Group Ltd’s holdings in Analog Devices were worth $23,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ADI. First Pacific Financial raised its stake in Analog Devices by 1.4% in the 1st quarter. First Pacific Financial now owns 5,584 shares of the semiconductor company’s stock worth $922,000 after purchasing an additional 77 shares in the last quarter. Welch & Forbes LLC boosted its stake in shares of Analog Devices by 4.9% in the first quarter. Welch & Forbes LLC now owns 31,015 shares of the semiconductor company’s stock valued at $5,122,000 after buying an additional 1,454 shares during the period. Wealth Advisors of Tampa Bay LLC grew its position in Analog Devices by 9.8% during the first quarter. Wealth Advisors of Tampa Bay LLC now owns 55,154 shares of the semiconductor company’s stock worth $9,109,000 after buying an additional 4,900 shares in the last quarter. Allworth Financial LP increased its stake in Analog Devices by 8.8% during the 1st quarter. Allworth Financial LP now owns 2,496 shares of the semiconductor company’s stock worth $412,000 after acquiring an additional 202 shares during the period. Finally, UMB Bank N A MO increased its stake in Analog Devices by 4.2% during the 1st quarter. UMB Bank N A MO now owns 12,440 shares of the semiconductor company’s stock worth $2,055,000 after acquiring an additional 500 shares during the period. 86.15% of the stock is owned by institutional investors and hedge funds.

ADI stock traded down $3.27 on Tuesday, reaching $139.64. The company’s stock had a trading volume of 55,581 shares, compared to its average volume of 3,338,894. The business has a fifty day simple moving average of $156.13 and a two-hundred day simple moving average of $160.49. The firm has a market cap of $72.59 billion, a PE ratio of 40.48, a PEG ratio of 1.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.53 and a current ratio of 1.99. Analog Devices, Inc. has a 12-month low of $140.52 and a 12-month high of $191.95.

Analog Devices (NASDAQ:ADIGet Rating) last announced its earnings results on Wednesday, May 18th. The semiconductor company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.29. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.84 billion. Analog Devices had a net margin of 16.84% and a return on equity of 12.11%. The business’s revenue for the quarter was up 78.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 earnings per share. As a group, research analysts anticipate that Analog Devices, Inc. will post 9.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 9th. Stockholders of record on Tuesday, May 31st were paid a $0.76 dividend. The ex-dividend date was Friday, May 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.18%. Analog Devices’s dividend payout ratio (DPR) is presently 86.12%.

A number of research analysts recently commented on the company. UBS Group dropped their price target on Analog Devices to $210.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. Morgan Stanley cut their price target on shares of Analog Devices from $186.00 to $173.00 and set an “equal weight” rating for the company in a report on Friday, June 10th. Truist Financial boosted their price objective on shares of Analog Devices from $194.00 to $203.00 and gave the company a “buy” rating in a research report on Thursday, May 19th. The Goldman Sachs Group reduced their target price on Analog Devices from $207.00 to $183.00 and set a “buy” rating on the stock in a report on Tuesday, April 5th. Finally, Oppenheimer reissued an “outperform” rating and set a $210.00 price target on shares of Analog Devices in a report on Thursday, June 23rd. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $197.80.

In other Analog Devices news, Director Bruce R. Evans bought 3,650 shares of the firm’s stock in a transaction dated Friday, June 17th. The stock was acquired at an average cost of $144.16 per share, for a total transaction of $526,184.00. Following the completion of the transaction, the director now owns 104,008 shares in the company, valued at $14,993,793.28. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Edward H. Frank sold 1,435 shares of Analog Devices stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $166.90, for a total transaction of $239,501.50. Following the sale, the director now directly owns 2,525 shares of the company’s stock, valued at approximately $421,422.50. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

About Analog Devices (Get Rating)

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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