Conning Inc. Sells 14,877 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Conning Inc. lessened its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 8.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 156,768 shares of the semiconductor company's stock after selling 14,877 shares during the quarter. Conning Inc.'s holdings in Analog Devices were worth $31,615,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Orion Capital Management LLC purchased a new stake in Analog Devices during the 4th quarter worth $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices during the 4th quarter worth $27,000. Alpine Bank Wealth Management purchased a new stake in Analog Devices during the 1st quarter worth $27,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices during the 4th quarter worth $30,000. Finally, Cassady Schiller Wealth Management LLC increased its stake in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Price Performance

Shares of NASDAQ ADI traded down $3.87 during midday trading on Monday, reaching $241.81. The company's stock had a trading volume of 2,783,358 shares, compared to its average volume of 3,596,105. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $221.10 and a 200 day moving average price of $212.75. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The company has a market cap of $120.00 billion, a price-to-earnings ratio of 65.89, a price-to-earnings-growth ratio of 2.27 and a beta of 1.02.

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, topping analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm earned $1.40 EPS. The business's revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued 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 1.64%. Analog Devices's dividend payout ratio is currently 107.90%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ADI shares. KGI Securities started coverage on shares of Analog Devices in a research report on Friday, May 23rd. They issued a "buy" rating for the company. Cantor Fitzgerald raised shares of Analog Devices from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $250.00 to $270.00 in a research report on Wednesday, June 18th. Piper Sandler dropped their target price on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Evercore ISI boosted their target price on shares of Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Finally, Raymond James Financial raised shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and an average target price of $253.31.

Insider Buying and Selling

In related news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the transaction, the director directly owned 180,071 shares of the company's stock, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer owned 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock worth $3,143,556 in the last 90 days. 0.33% of the stock is owned by company insiders.

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.