Welch & Forbes LLC Reduces Holdings in Analog Devices, Inc. (ADI)

Welch & Forbes LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,529 shares of the semiconductor company’s stock after selling 2,171 shares during the period. Welch & Forbes LLC’s holdings in Analog Devices were worth $2,803,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Franklin Resources Inc. raised its stake in shares of Analog Devices by 54.1% in the second quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock worth $719,786,000 after buying an additional 3,248,336 shares during the period. Janus Henderson Group PLC raised its stake in shares of Analog Devices by 576.1% in the second quarter. Janus Henderson Group PLC now owns 1,785,372 shares of the semiconductor company’s stock worth $138,903,000 after buying an additional 1,521,316 shares during the period. BlackRock Inc. raised its stake in shares of Analog Devices by 6.2% in the second quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock worth $1,904,749,000 after buying an additional 1,437,338 shares during the period. Prudential PLC raised its stake in shares of Analog Devices by 23,301.9% in the second quarter. Prudential PLC now owns 1,304,189 shares of the semiconductor company’s stock worth $101,466,000 after buying an additional 1,298,616 shares during the period. Finally, FMR LLC raised its stake in shares of Analog Devices by 14.6% in the second quarter. FMR LLC now owns 8,889,572 shares of the semiconductor company’s stock worth $691,608,000 after buying an additional 1,132,549 shares during the period. 87.31% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently issued reports on ADI shares. Royal Bank Of Canada reissued a “buy” rating and set a $92.00 target price on shares of Analog Devices in a research note on Friday, August 4th. BidaskClub downgraded Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. B. Riley reissued a “buy” rating and set a $103.00 target price on shares of Analog Devices in a research note on Thursday, August 17th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $100.00 price objective (up previously from $96.00) on shares of Analog Devices in a research note on Tuesday, August 29th. Finally, Nomura raised Analog Devices from a “reduce” rating to a “neutral” rating and lifted their price objective for the stock from $72.50 to $80.00 in a research note on Thursday, August 31st. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $96.04.

Shares of Analog Devices, Inc. (NASDAQ ADI) traded up $0.45 during midday trading on Friday, reaching $86.11. The company’s stock had a trading volume of 3,866,500 shares, compared to its average volume of 2,976,602. The company has a current ratio of 1.47, a quick ratio of 1.13 and a debt-to-equity ratio of 0.74. The company has a market cap of $32,097.12, a price-to-earnings ratio of 18.60, a PEG ratio of 1.61 and a beta of 1.32. Analog Devices, Inc. has a 1-year low of $68.42 and a 1-year high of $93.99.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.09. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. Analog Devices’s revenue was up 53.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. equities research analysts anticipate that Analog Devices, Inc. will post 5.19 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, November 30th. Analog Devices’s dividend payout ratio (DPR) is presently 86.96%.

In other Analog Devices news, Director Ray Stata sold 25,000 shares of Analog Devices stock in a transaction on Friday, September 15th. The stock was sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the sale, the director now directly owns 234,481 shares of the company’s stock, valued at approximately $19,579,163.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Peter Real sold 4,505 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $83.52, for a total value of $376,257.60. Following the completion of the transaction, the senior vice president now directly owns 13,531 shares of the company’s stock, valued at $1,130,109.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,256 shares of company stock valued at $9,687,884. 1.10% of the stock is currently owned by corporate insiders.

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Analog Devices Company Profile

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

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

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