Cumberland Partners Ltd Sells 58,018 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Cumberland Partners Ltd lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 71.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,024 shares of the semiconductor company’s stock after selling 58,018 shares during the period. Cumberland Partners Ltd’s holdings in Analog Devices were worth $5,299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ADI. Baader Bank Aktiengesellschaft lifted its stake in Analog Devices by 3.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 43 shares during the last quarter. Grove Bank & Trust raised its stake in shares of Analog Devices by 3.1% during the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after acquiring an additional 43 shares in the last quarter. CVA Family Office LLC raised its stake in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. Legacy Financial Advisors Inc. raised its stake in shares of Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 48 shares in the last quarter. Finally, Quotient Wealth Partners LLC raised its stake in shares of Analog Devices by 2.5% during the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley lifted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the company’s 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 in the company, valued at approximately $13,229,149.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,495 shares of company stock valued at $25,229,958. 0.31% of the stock is owned by insiders.

Analog Devices Stock Performance

Shares of ADI traded down $1.62 during trading hours on Tuesday, reaching $218.85. 125,236 shares of the company traded hands, compared to its average volume of 3,197,650. The stock has a market capitalization of $108.66 billion, a P/E ratio of 66.21, a P/E/G ratio of 3.17 and a beta of 1.08. 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 12-month low of $170.10 and a 12-month high of $244.14. The business has a fifty day moving average price of $226.32 and a 200-day moving average price of $224.99.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data 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 firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company earned $2.49 earnings per share. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. Equities analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 110.51%.

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.