Virginia Wealth Management Group Inc. Trims Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Virginia Wealth Management Group Inc. trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,000 shares of the semiconductor company's stock after selling 1,336 shares during the quarter. Virginia Wealth Management Group Inc.'s holdings in Analog Devices were worth $1,008,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Orion Capital Management LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth about $27,000. Menard Financial Group LLC acquired a new position in shares of Analog Devices in the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new position in shares of Analog Devices in the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices during the 4th quarter worth approximately $30,000. Finally, Cassady Schiller Wealth Management LLC increased its stake in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Down 3.1%

NASDAQ ADI traded down $7.09 during trading hours on Friday, reaching $225.03. The company's stock had a trading volume of 3,349,531 shares, compared to its average volume of 3,576,995. The firm has a fifty day simple moving average of $204.95 and a 200-day simple moving average of $210.75. The stock has a market cap of $111.67 billion, a P/E ratio of 71.67, a P/E/G 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 company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (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 net margin of 16.75% and a return on equity of 8.91%. The company's revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 EPS. Equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.76%. Analog Devices's dividend payout ratio is presently 107.90%.

Analog Devices announced that its board has approved a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently commented on ADI. Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. Barclays increased their target price on shares of Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Citigroup raised their price objective 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, Cowen reissued a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus target price of $248.63.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer now directly owns 142,996 shares in the company, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,934 shares of company stock worth $6,643,956 over the last quarter. 0.33% of the stock is owned by corporate insiders.

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.