Benjamin Edwards Inc. Sells 2,035 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Benjamin Edwards Inc. reduced its stake in Analog Devices, Inc. by 2.1%, holding 94,103 shares worth approximately $18.98 million after selling 2,035 shares.
• Major investors like GAMMA Investing LLC and Kovitz Investment Group Partners LLC significantly increased their holdings in Analog Devices, highlighting strong institutional interest in the semiconductor company.
• Analysts show a positive outlook on Analog Devices with an average target price of $258.89 and a consensus rating of "Moderate Buy", reflecting confidence in the company's growth potential.

Benjamin Edwards Inc. cut its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,103 shares of the semiconductor company's stock after selling 2,035 shares during the period. Benjamin Edwards Inc.'s holdings in Analog Devices were worth $18,978,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in shares of Analog Devices in the fourth quarter worth approximately $27,000. Menard Financial Group LLC purchased a new position in shares of Analog Devices in the fourth quarter valued at about $27,000. Alpine Bank Wealth Management bought a new position in shares of Analog Devices during the first quarter valued at about $27,000. N.E.W. Advisory Services LLC purchased a new position in Analog Devices during the 1st quarter valued at about $33,000. Finally, North Capital Inc. purchased a new position in shares of Analog Devices during the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

Shares of ADI stock traded up $7.97 on Tuesday, reaching $232.04. The stock had a trading volume of 4,978,381 shares, compared to its average volume of 3,955,744. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.73. The stock has a market cap of $115.15 billion, a P/E ratio of 63.23, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05. The company has a 50 day simple moving average of $232.49 and a 200 day simple moving average of $215.68.

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

Analog Devices Announces Dividend

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

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices 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 transaction, the director owned 167,571 shares of the company's stock, valued at $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ADI. Citigroup reaffirmed a "buy" rating and issued a $290.00 price target (up from $260.00) on shares of Analog Devices in a research note on Monday, July 7th. TD Cowen increased their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Seaport Res Ptn raised shares of Analog Devices from a "strong sell" rating to a "hold" rating in a research note on Monday, July 21st. Noble Financial upgraded shares of Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. Finally, Cowen reiterated a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

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.