Diversified Trust Co lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 22.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,199 shares of the semiconductor company’s stock after selling 8,011 shares during the period. Diversified Trust Co’s holdings in Analog Devices were worth $3,039,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Lenox Wealth Advisors LLC purchased a new position in Analog Devices in the 2nd quarter worth about $28,000. Assetmark Inc. grew its stake in shares of Analog Devices by 120.6% during the 2nd quarter. Assetmark Inc. now owns 289 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 158 shares during the period. Tortoise Investment Management LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at approximately $34,000. Webster Bank N. A. grew its stake in shares of Analog Devices by 150.0% during the 3rd quarter. Webster Bank N. A. now owns 340 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 204 shares during the period. Finally, Mcmillion Capital Management Inc. bought a new position in shares of Analog Devices during the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.

Shares of Analog Devices stock traded up $1.59 during trading on Wednesday, hitting $107.72. 238,529 shares of the stock traded hands, compared to its average volume of 2,595,590. The firm has a market cap of $39.21 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.43. The company has a current ratio of 1.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.45. Analog Devices, Inc. has a 52-week low of $76.62 and a 52-week high of $124.79. The stock’s fifty day simple moving average is $111.42 and its 200 day simple moving average is $110.47.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.22 by $0.04. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Analog Devices had a return on equity of 17.87% and a net margin of 24.71%. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. As a group, equities analysts expect that Analog Devices, Inc. will post 5.2 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.16 annualized dividend and a dividend yield of 2.01%. Analog Devices’s dividend payout ratio is currently 36.36%.

Several research analysts have weighed in on the company. Loop Capital upped their price target on Analog Devices to $125.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Morgan Stanley upped their price target on Analog Devices from $97.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 22nd. Piper Jaffray Companies upped their price target on Analog Devices from $118.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. ValuEngine downgraded Analog Devices from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Barclays upgraded Analog Devices from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $105.00 to $130.00 in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Analog Devices presently has a consensus rating of “Buy” and a consensus target price of $113.56.

In related news, Director James Champy sold 8,260 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $121.02, for a total transaction of $999,625.20. Following the sale, the director now owns 17,390 shares of the company’s stock, valued at $2,104,537.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $118.43, for a total value of $1,184,300.00. Following the sale, the chief executive officer now directly owns 31,206 shares in the company, valued at approximately $3,695,726.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,206 shares of company stock worth $6,064,261. Insiders own 0.50% of the company’s stock.

About Analog Devices

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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

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