Russell Investments Group Ltd. Sells 77,337 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Russell Investments Group Ltd. has reduced its stake in Analog Devices by 17.8%, now holding around 356,359 shares valued at $71.86 million.
• Analysts have varying opinions on Analog Devices, with a consensus price target of $258.89 and an overall rating of "Moderate Buy."
• Analog Devices has announced a quarterly dividend of $0.99, representing an annual yield of 1.7% and a payout ratio of 107.90%.

Russell Investments Group Ltd. lowered its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 17.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 356,359 shares of the semiconductor company's stock after selling 77,337 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Analog Devices worth $71,861,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. increased its holdings in Analog Devices by 284.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company's stock valued at $6,262,000 after purchasing an additional 22,973 shares during the period. Freestone Grove Partners LP bought a new stake in Analog Devices during the 4th quarter valued at approximately $10,212,000. Sowell Financial Services LLC bought a new stake in Analog Devices during the 1st quarter valued at approximately $296,000. Keybank National Association OH boosted its position in Analog Devices by 85.8% during the 1st quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock valued at $5,461,000 after acquiring an additional 12,505 shares in the last quarter. Finally, Eastern Bank boosted its position in Analog Devices by 6.0% during the 1st quarter. Eastern Bank now owns 196,677 shares of the semiconductor company's stock valued at $39,664,000 after acquiring an additional 11,101 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on ADI shares. KeyCorp lifted their price objective on Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Benchmark reaffirmed a "buy" rating and set a $260.00 price objective (down from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Stifel Nicolaus boosted their price target on Analog Devices from $248.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. 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, Morgan Stanley dropped 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. Six equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $258.89.

Analog Devices Stock Performance

ADI traded down $4.58 during mid-day trading on Friday, reaching $231.63. 3,825,918 shares of the company traded hands, compared to its average volume of 3,942,494. The stock has a market capitalization of $114.95 billion, a P/E ratio of 63.11, a P/E/G ratio of 2.19 and a beta of 1.05. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The company's fifty day moving average price is $233.51 and its 200-day moving average price is $216.09. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.73.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.70 by $0.15. The firm 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 9.56% and a net margin of 18.65%. Analog Devices's revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 EPS. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

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

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.