Bleakley Financial Group LLC Has $4.25 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Bleakley Financial Group LLC raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,445 shares of the semiconductor company’s stock after buying an additional 237 shares during the quarter. Bleakley Financial Group LLC’s holdings in Analog Devices were worth $4,246,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADI. New Millennium Group LLC acquired a new position in Analog Devices during the 2nd quarter valued at $29,000. Riverview Trust Co acquired a new position in shares of Analog Devices during the first quarter valued at about $30,000. ORG Partners LLC raised its position in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the last quarter. CVA Family Office LLC grew its position in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Analog Devices during the second quarter worth about $37,000. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the transaction, the executive vice president now owns 79,093 shares in the company, valued at approximately $18,106,760.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Edward H. Frank sold 500 shares of the company’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 sale, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. 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 available at this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the transaction, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,495 shares of company stock valued at $20,794,658 in the last ninety days. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley upped their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, Bank of America decreased their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Trading Up 0.4 %

Shares of ADI stock opened at $228.33 on Friday. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The stock’s fifty day moving average price is $225.95 and its two-hundred day moving average price is $220.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The company has a market cap of $113.30 billion, a PE ratio of 53.35, a P/E/G ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.49 EPS. Equities analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors 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 1.61%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

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.