Victory Capital Management Inc. Sells 5,420 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Victory Capital Management Inc. lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 510,017 shares of the semiconductor company's stock after selling 5,420 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of Analog Devices worth $102,855,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ADI. China Universal Asset Management Co. Ltd. raised its holdings in Analog Devices by 284.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company's stock worth $6,262,000 after buying an additional 22,973 shares during the last quarter. Broderick Brian C raised 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 buying an additional 2,017 shares during the last quarter. Freestone Grove Partners LP purchased a new position in Analog Devices in the fourth quarter worth about $10,212,000. Sowell Financial Services LLC purchased a new position in Analog Devices in the first quarter worth about $296,000. Finally, Keybank National Association OH raised its holdings in Analog Devices by 85.8% in the first quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock worth $5,461,000 after buying an additional 12,505 shares during the last quarter. Institutional investors own 86.81% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. 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. Wall Street Zen raised shares of Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Keefe, Bruyette & Woods raised shares of Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. Cfra Research cut shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, May 22nd. Finally, Williams Trading set a $260.00 price objective on shares of Analog Devices in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was 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 approximately $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,250 shares of company stock valued at $3,327,994. Company insiders own 0.33% of the company's stock.

Analog Devices Stock Performance

NASDAQ ADI traded up $0.88 during trading hours on Friday, hitting $241.85. 2,761,631 shares of the company's stock traded hands, compared to its average volume of 3,595,673. The business's fifty day moving average price is $229.40 and its two-hundred day moving average price is $214.47. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $120.02 billion, a P/E ratio of 65.90, a P/E/G ratio of 2.22 and a beta of 1.02. 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 announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 18.65% and a return on equity of 9.56%. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.40 earnings per share. Equities research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current 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 given a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.64%. Analog Devices's payout ratio is currently 107.90%.

About Analog Devices

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.