Heritage Family Offices LLP Sells 3,878 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Heritage Family Offices LLP cut its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 40.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,808 shares of the semiconductor company's stock after selling 3,878 shares during the quarter. Heritage Family Offices LLP's holdings in Analog Devices were worth $1,171,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADI. Orion Capital Management LLC bought a new position in shares of Analog Devices during the fourth quarter worth approximately $27,000. Menard Financial Group LLC acquired a new stake in Analog Devices during the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new position in Analog Devices during the 4th quarter worth $30,000. Hopwood Financial Services Inc. acquired a new position in Analog Devices in the 4th quarter valued at $30,000. Finally, Cassady Schiller Wealth Management LLC lifted its position in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Up 0.0%

Shares of ADI stock traded up $0.07 during mid-day trading on Wednesday, reaching $218.50. 4,199,243 shares of the stock traded hands, compared to its average volume of 3,556,540. The company has a market cap of $108.43 billion, a price-to-earnings ratio of 69.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock's fifty day simple moving average is $198.46 and its two-hundred day simple moving average is $210.12. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned $1.40 EPS. The firm's revenue was up 22.3% compared to the same quarter last year. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.81%. Analog Devices's payout ratio is 107.90%.

Insider Activity at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This represents a 22.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director now owns 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. Insiders sold 42,934 shares of company stock worth $8,735,156 over the last three months. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley decreased their price target on Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Cowen reissued a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Stifel Nicolaus boosted their target price on shares of Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Citigroup increased their price target on shares of Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Williams Trading set a $260.00 price objective on shares of Analog Devices in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and an average target price of $248.63.

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.