Los Angeles Capital Management LLC Has $73.87 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Los Angeles Capital Management LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 320,922 shares of the semiconductor company’s stock after selling 33,623 shares during the quarter. Los Angeles Capital Management LLC owned about 0.06% of Analog Devices worth $73,867,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC bought a new stake in shares of Analog Devices during the 2nd quarter worth approximately $29,000. ORG Partners LLC raised its stake in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. CVA Family Office LLC raised its stake in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Analog Devices during the 2nd quarter worth approximately $37,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ADI shares. Barclays increased their price target 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. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America reduced their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Morgan Stanley raised their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $249.80.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This trade 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 hyperlink. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This trade 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 hyperlink. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is owned by corporate insiders.

Analog Devices Trading Down 0.9 %

ADI stock traded down $1.97 during mid-day trading on Friday, reaching $225.80. The company’s stock had a trading volume of 3,426,964 shares, compared to its average volume of 2,521,661. The company has a market cap of $112.11 billion, a price-to-earnings ratio of 67.81, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08. The business’s 50 day moving average price is $226.61 and its 200 day moving average price is $224.63. 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 12 month low of $166.78 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.49 earnings per share. On average, equities research analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.63%. Analog Devices’s payout ratio is currently 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.