IFM Investors Pty Ltd Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

IFM Investors Pty Ltd trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 101,957 shares of the semiconductor company’s stock after selling 205 shares during the period. IFM Investors Pty Ltd’s holdings in Analog Devices were worth $23,467,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ADI. Bogart Wealth LLC lifted its stake in Analog Devices by 0.6% during the third quarter. Bogart Wealth LLC now owns 27,298 shares of the semiconductor company’s stock worth $6,283,000 after purchasing an additional 168 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Analog Devices by 6.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 44,684 shares of the semiconductor company’s stock worth $10,288,000 after purchasing an additional 2,727 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after purchasing an additional 883,888 shares in the last quarter. McAdam LLC lifted its stake in Analog Devices by 11.3% during the third quarter. McAdam LLC now owns 976 shares of the semiconductor company’s stock worth $225,000 after purchasing an additional 99 shares in the last quarter. Finally, Sterling Investment Counsel LLC lifted its stake in Analog Devices by 3.5% during the third quarter. Sterling Investment Counsel LLC now owns 3,456 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 116 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $2.30 during midday trading on Thursday, reaching $229.15. 883,430 shares of the company were exchanged, compared to its average volume of 3,223,502. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The stock has a fifty day simple moving average of $226.59 and a 200 day simple moving average of $221.70. The stock has a market cap of $113.71 billion, a P/E ratio of 53.00, a PEG ratio of 3.87 and a beta of 1.07.

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

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given 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 1.61%. Analog Devices’s payout ratio is currently 85.98%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 91,495 shares of company stock worth $20,794,658. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of research reports. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Bank of America reduced their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Barclays increased their price objective on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $249.80.

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.