Bank of New York Mellon Corp Sells 94,165 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Bank of New York Mellon Corp reduced its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,209,632 shares of the semiconductor company's stock after selling 94,165 shares during the period. Bank of New York Mellon Corp owned 0.65% of Analog Devices worth $647,287,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Analog Devices by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock worth $10,432,961,000 after buying an additional 413,084 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Analog Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after purchasing an additional 247,737 shares during the period. Norges Bank acquired a new stake in shares of Analog Devices during the fourth quarter worth $1,755,958,000. FMR LLC increased its stake in Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock valued at $1,582,831,000 after buying an additional 61,390 shares during the period. Finally, Northern Trust Corp raised its position in Analog Devices by 8.4% during the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock worth $1,173,026,000 after buying an additional 427,328 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Activity

In related news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the sale, the director owned 180,071 shares of the company's stock, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,968,400.00. Following the completion of the transaction, the chief executive officer owned 142,996 shares of the company's stock, valued at $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $3,143,556 in the last ninety days. Insiders own 0.33% of the company's stock.

Analog Devices Stock Performance

Analog Devices stock traded down $3.87 on Monday, reaching $241.81. 2,783,358 shares of the stock were exchanged, compared to its average volume of 3,596,106. The stock has a market cap of $120.00 billion, a PE ratio of 65.89, a PEG ratio of 2.27 and a beta of 1.02. The firm has a fifty day moving average price of $221.10 and a two-hundred day moving average price of $212.75. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm's revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the company earned $1.40 earnings per share. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.64%. Analog Devices's payout ratio is 107.90%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADI. Cfra Research lowered shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Raymond James Financial upgraded shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, June 18th. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. KGI Securities started coverage on shares of Analog Devices in a report on Friday, May 23rd. They set a "buy" rating for the company. Finally, Morgan Stanley reduced their price objective on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $253.31.

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.