Analog Devices, Inc. $ADI Shares Sold by Boston Partners

Key Points

• Boston Partners reduced its stake in Analog Devices by 0.4%, now owning 510,000 shares valued at approximately $102.8 million.
• Analog Devices reported a strong quarterly earnings results with $1.85 EPS, exceeding estimates and with revenue growth of 22.3% year-over-year.
• The firm declared a quarterly dividend of $0.99 per share, with a payout ratio of 107.90%, reflecting its commitment to returning value to shareholders.

Boston Partners decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 510,000 shares of the semiconductor company's stock after selling 2,302 shares during the period. Boston Partners owned approximately 0.10% of Analog Devices worth $102,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ADI. Vanguard Group Inc. boosted its stake in shares of Analog Devices by 0.7% during the first quarter. Vanguard Group Inc. now owns 49,465,370 shares of the semiconductor company's stock valued at $9,975,681,000 after purchasing an additional 359,841 shares during the period. Northern Trust Corp boosted its stake in shares of Analog Devices by 8.4% during the fourth quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock valued at $1,173,026,000 after purchasing an additional 427,328 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Analog Devices by 5.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,715,313 shares of the semiconductor company's stock valued at $789,356,000 after purchasing an additional 181,309 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Analog Devices by 25.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company's stock valued at $708,260,000 after purchasing an additional 668,023 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Analog Devices by 9.0% during the fourth quarter. Nuveen Asset Management LLC now owns 3,221,053 shares of the semiconductor company's stock valued at $684,345,000 after purchasing an additional 266,532 shares during the period. Institutional investors own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of research reports. Evercore ISI upped their price objective on shares of Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Barclays upped their price objective on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Benchmark reaffirmed a "buy" rating and issued a $260.00 price objective (down from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. Cfra Research lowered shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, May 22nd. Finally, UBS Group lowered their price objective on shares of Analog Devices from $285.00 to $280.00 and set a "buy" rating for the company in a research note on Monday, July 7th. Six research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the sale, the director owned 167,571 shares of the company's stock, valued at $40,088,010.33. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by insiders.

Analog Devices Stock Performance

NASDAQ:ADI traded down $0.08 during midday trading on Monday, hitting $231.55. The company's stock had a trading volume of 2,259,933 shares, compared to its average volume of 3,931,575. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The firm has a market cap of $114.91 billion, a P/E ratio of 63.09, a P/E/G ratio of 2.13 and a beta of 1.05. The firm's 50 day moving average is $233.70 and its 200-day moving average is $216.31.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 EPS. Equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.7%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

About Analog Devices

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.