Gulf International Bank UK Ltd Lowers Stake in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Gulf International Bank UK Ltd has reduced its ownership of Analog Devices, Inc. by 25.2%, now holding 28,299 shares valued at $5.7 million after selling 9,545 shares in Q1.
• Several hedge funds have increased their positions in Analog Devices, with institutional investors and hedge funds collectively owning 86.81% of the company’s stock.
• Analog Devices reported a strong performance in its last quarterly earnings, with earnings per share of $1.85, exceeding estimates and a year-on-year revenue increase of 22.3%.

Gulf International Bank UK Ltd lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 25.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,299 shares of the semiconductor company's stock after selling 9,545 shares during the quarter. Gulf International Bank UK Ltd's holdings in Analog Devices were worth $5,707,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ADI. GAMMA Investing LLC raised its holdings in shares of Analog Devices by 25,460.1% during the first quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock valued at $446,037,000 after purchasing an additional 2,203,062 shares during the period. Nuveen LLC acquired a new position in shares of Analog Devices during the first quarter valued at about $351,943,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Analog Devices by 301.1% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after acquiring an additional 1,186,981 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Analog Devices by 71.0% in the 4th quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock worth $458,683,000 after acquiring an additional 896,694 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Analog Devices by 25.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company's stock worth $708,260,000 after acquiring an additional 668,023 shares during the last quarter. Institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

NASDAQ:ADI traded down $4.58 during trading hours on Friday, hitting $231.63. The stock had a trading volume of 3,825,918 shares, compared to its average volume of 3,617,735. The company has a 50 day simple moving average of $233.70 and a two-hundred day simple moving average of $216.24. 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, Inc. has a one year low of $158.65 and a one year high of $247.73. The firm has a market capitalization of $114.95 billion, a price-to-earnings ratio of 63.11, a P/E/G ratio of 2.18 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm earned $1.40 EPS. The business's quarterly revenue was up 22.3% compared to the same quarter last year. Research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the transaction, the director directly owned 167,571 shares of the company's stock, valued at $40,088,010.33. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ADI has been the topic of a number of analyst reports. Wells Fargo & Company set a $235.00 target price on shares of Analog Devices and gave the stock an "equal weight" rating in a report on Monday, June 16th. Stifel Nicolaus upped their target price on shares of Analog Devices from $248.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Benchmark restated a "buy" rating and issued a $260.00 target price (down previously from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Raymond James Financial upgraded shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, June 18th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research note on Friday, May 23rd. Six equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and an average target price of $258.89.

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.