Bessemer Group Inc. Cuts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Bessemer Group Inc. lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 31.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,462 shares of the semiconductor company's stock after selling 11,649 shares during the quarter. Bessemer Group Inc.'s holdings in Analog Devices were worth $5,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. Orion Capital Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at $27,000. Menard Financial Group LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at $30,000. Finally, Cassady Schiller Wealth Management LLC grew its stake in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James Financial raised Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. Barclays lifted their price objective on Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Benchmark reaffirmed a "buy" rating and issued a $260.00 price objective (down from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. Finally, Noble Financial upgraded Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $251.75.

Analog Devices Stock Up 1.1%

Shares of NASDAQ:ADI traded up $2.62 on Tuesday, hitting $240.64. 3,500,630 shares of the company's stock were exchanged, compared to its average volume of 3,587,852. The firm's 50-day moving average is $217.82 and its 200 day moving average is $212.02. The company has a market capitalization of $119.42 billion, a PE ratio of 65.57, a P/E/G ratio of 2.20 and a beta of 1.01. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 EPS. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced 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 was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.65%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated 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 directly owned 142,996 shares of the company's stock, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the sale, the director directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,250 shares of company stock valued at $3,143,556. Insiders own 0.33% of the company's stock.

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.