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

Conning Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,768 shares of the semiconductor company's stock after selling 14,877 shares during the period. Conning Inc.'s holdings in Analog Devices were worth $31,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Broderick Brian C boosted its holdings in Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after purchasing an additional 2,017 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Analog Devices during the 4th quarter worth $10,212,000. Sowell Financial Services LLC purchased a new position in shares of Analog Devices during the 1st quarter worth $296,000. Keybank National Association OH boosted its stake in shares of Analog Devices by 85.8% during the 1st quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock worth $5,461,000 after acquiring an additional 12,505 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its stake in shares of Analog Devices by 4.3% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,072 shares of the semiconductor company's stock worth $1,224,000 after acquiring an additional 251 shares during the last quarter. Institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

Shares of Analog Devices stock traded up $0.93 during trading hours on Friday, reaching $246.08. The company's stock had a trading volume of 1,837,392 shares, compared to its average volume of 3,599,370. The firm has a 50 day moving average price of $221.10 and a 200-day moving average price of $212.71. Analog Devices, Inc. has a one year low of $158.65 and a one year 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. The stock has a market cap of $122.12 billion, a P/E ratio of 67.05, a P/E/G ratio of 2.27 and a beta of 1.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share 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 firm 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 posted $1.40 EPS. The business's quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders 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 dividend on an annualized basis and a yield of 1.61%. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer directly owned 142,996 shares in the company, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the transaction, the director owned 180,071 shares in the company, valued at $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $3,143,556 over the last 90 days. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of several analyst reports. Barclays lifted their price target 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. TD Cowen raised their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Oppenheimer raised their price objective on shares of Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Cantor Fitzgerald upgraded shares of Analog Devices from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $250.00 to $270.00 in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.