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

Conning Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 8.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Broderick Brian C boosted its position in shares of Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after buying an additional 2,017 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Analog Devices during the fourth quarter valued at $10,212,000. Sowell Financial Services LLC purchased a new stake in shares of Analog Devices during the first quarter valued at $296,000. Keybank National Association OH boosted its position in shares of Analog Devices by 85.8% during the first quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock valued at $5,461,000 after buying an additional 12,505 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its position in shares of Analog Devices by 4.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 6,072 shares of the semiconductor company's stock valued at $1,224,000 after buying an additional 251 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

Shares of ADI stock traded down $0.81 during trading hours on Monday, reaching $244.87. 134,250 shares of the company traded hands, compared to its average volume of 3,585,858. The firm has a 50-day moving average price of $221.10 and a 200 day moving average price of $212.75. The company has a market cap of $121.52 billion, a P/E ratio of 66.72, a P/E/G ratio of 2.27 and a beta of 1.02. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results 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 company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm's quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the company earned $1.40 EPS. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on 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 $28,147,332.64. The trade was a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the sale, the director directly owned 180,071 shares in the company, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,250 shares of company stock worth $3,143,556. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Oppenheimer increased their price objective on Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Noble Financial raised Analog Devices to an "outperform" rating in a research report on Wednesday, June 18th. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Raymond James Financial raised Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company set a $235.00 target price on Analog Devices and gave the stock an "equal weight" rating in a research report on Monday, June 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus target price of $251.75.

Analog Devices Profile

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.