Bank of New York Mellon Corp Trims Position in Analog Devices, Inc. (NASDAQ:ADI)

Bank of New York Mellon Corp reduced its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,209,632 shares of the semiconductor company's stock after selling 94,165 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of Analog Devices worth $647,287,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ADI. Orion Capital Management LLC acquired a new position in Analog Devices in the 4th quarter valued at about $27,000. Menard Financial Group LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new stake in shares of Analog Devices during the 1st quarter worth approximately $27,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $30,000. Finally, Cassady Schiller Wealth Management LLC lifted its stake in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction 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 transaction, the chief executive officer directly owned 142,996 shares in the company, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the transaction, the director owned 180,071 shares in the company, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock valued at $3,143,556 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ADI shares. Cowen reaffirmed a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. Benchmark reiterated a "buy" rating and issued a $260.00 price objective (down previously from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. Cantor Fitzgerald raised shares of Analog Devices from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $250.00 to $270.00 in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company set a $235.00 target price on shares of Analog Devices and gave the stock an "equal weight" rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $251.75.

Analog Devices Stock Performance

Shares of ADI traded up $0.93 during trading hours on Friday, reaching $246.08. 1,837,392 shares of the company traded hands, compared to its average volume of 3,599,370. The business has a fifty day moving average price of $221.10 and a 200-day moving average price of $212.71. The stock has a market capitalization of $122.12 billion, a P/E ratio of 67.05, a P/E/G ratio of 2.27 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10.

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

Analog Devices Dividend Announcement

The firm 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 annualized dividend and a yield of 1.61%. Analog Devices's dividend payout ratio is presently 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.