Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 49.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,174 shares of the semiconductor company's stock after selling 4,087 shares during the period. Douglas Lane & Associates LLC's holdings in Analog Devices were worth $842,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ADI shares. Benchmark reissued a "buy" rating and set a $260.00 price objective (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Cowen reiterated a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. JPMorgan Chase & Co. increased their target price on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Evercore ISI raised their target price on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Finally, Williams Trading set a $260.00 target price on shares of Analog Devices in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $248.63.

Analog Devices Stock Up 1.6%

NASDAQ ADI traded up $3.53 on Thursday, hitting $222.03. The stock had a trading volume of 844,300 shares, compared to its average volume of 3,546,212. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a market cap of $110.18 billion, a price-to-earnings ratio of 70.71, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The business's fifty day moving average price is $198.79 and its 200 day moving average price is $210.18.

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, topping analysts' consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm's quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. Equities research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.78%. Analog Devices's payout ratio is 107.90%.

Analog Devices announced that its board has initiated a share repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock valued at $8,735,156 in the last 90 days. Company insiders own 0.33% of the company's stock.

Analog Devices Company 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.