Canandaigua National Bank & Trust Co. Decreases Position in Analog Devices, Inc. (NASDAQ:ADI)

Canandaigua National Bank & Trust Co. trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,098 shares of the semiconductor company’s stock after selling 365 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Analog Devices were worth $1,634,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ADI. New Millennium Group LLC purchased a new position in shares of Analog Devices during the second quarter valued at approximately $29,000. Riverview Trust Co bought a new stake in Analog Devices during the first quarter valued at approximately $30,000. ORG Partners LLC grew its position in 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 period. CVA Family Office LLC boosted its position in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC bought a new position in shares of Analog Devices in the second quarter worth approximately $37,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ADI shares. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. Barclays boosted their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Oppenheimer reissued an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Bank of America lowered their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Trading Up 0.7 %

Shares of ADI traded up $1.67 during midday trading on Friday, hitting $228.23. The stock had a trading volume of 1,895,235 shares, compared to its average volume of 3,302,632. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The firm has a market cap of $113.25 billion, a PE ratio of 53.32, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The stock’s 50 day moving average is $222.83 and its 200 day moving average is $218.35.

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

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,640,975.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is currently owned by company insiders.

Analog Devices Company 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.