Confluence Investment Management LLC Sells 14,364 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Confluence Investment Management LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 629,623 shares of the semiconductor company's stock after selling 14,364 shares during the quarter. Analog Devices accounts for approximately 1.8% of Confluence Investment Management LLC's portfolio, making the stock its 15th largest holding. Confluence Investment Management LLC owned about 0.13% of Analog Devices worth $126,976,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ADI. Midwest Professional Planners LTD. increased its position in shares of Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after purchasing an additional 53 shares during the last quarter. Portland Global Advisors LLC grew its position in Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after buying an additional 53 shares during the period. NTV Asset Management LLC increased its holdings in Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after buying an additional 54 shares during the last quarter. Cassady Schiller Wealth Management LLC raised its holdings in shares of Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in Analog Devices by 1.3% in the fourth quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company's stock valued at $1,114,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

Shares of ADI stock traded down $2.76 during trading on Friday, hitting $212.99. The company had a trading volume of 10,922,443 shares, compared to its average volume of 3,565,401. The stock's 50-day moving average is $198.17 and its two-hundred day moving average is $210.03. The stock has a market capitalization of $105.70 billion, a price-to-earnings ratio of 67.83, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm's revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 earnings per share. As a group, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Analog Devices announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Wells Fargo & Company restated a "positive" rating on shares of Analog Devices in a research note on Friday, May 23rd. Maxim Group started coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. Williams Trading set a $260.00 price target on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Barclays raised their price objective on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and an average target price of $248.63.

Insider Transactions at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, the director now owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,934 shares of company stock worth $8,735,156. Insiders own 0.33% of the company's stock.

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.