Beacon Investment Advisory Services Inc. Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Beacon Investment Advisory Services Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,787 shares of the semiconductor company's stock after selling 19,961 shares during the period. Analog Devices accounts for approximately 1.6% of Beacon Investment Advisory Services Inc.'s portfolio, making the stock its 16th largest holding. Beacon Investment Advisory Services Inc.'s holdings in Analog Devices were worth $34,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADI. Norges Bank bought a new position in shares of Analog Devices in the fourth quarter worth approximately $1,755,958,000. GAMMA Investing LLC grew its stake in Analog Devices by 25,460.1% in the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock worth $446,037,000 after buying an additional 2,203,062 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Analog Devices by 301.1% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after buying an additional 1,186,981 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Analog Devices by 71.0% in the 4th quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock worth $458,683,000 after buying an additional 896,694 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Analog Devices by 25.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company's stock valued at $708,260,000 after buying an additional 668,023 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated 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 trade represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices 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 transaction, the director directly owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,250 shares of company stock valued at $3,327,994. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on ADI shares. 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. Citigroup reaffirmed a "buy" rating and set a $290.00 price target (up previously from $260.00) on shares of Analog Devices in a research note on Monday, July 7th. KeyCorp increased 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. Stifel Nicolaus boosted their target price on Analog Devices from $248.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Evercore ISI upped their target price on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $258.89.

Analog Devices Trading Down 0.7%

NASDAQ ADI traded down $1.71 on Thursday, hitting $226.37. The company's stock had a trading volume of 4,770,909 shares, compared to its average volume of 3,185,868. 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, Inc. has a 52-week low of $158.65 and a 52-week high of $247.73. The firm has a market cap of $112.34 billion, a P/E ratio of 61.68, a PEG ratio of 2.10 and a beta of 1.02. The company's 50-day simple moving average is $230.63 and its 200 day simple moving average is $215.12.

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 for the quarter, beating the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion for 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 for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 earnings per share. Research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Wednesday, June 4th. 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.