Callan Family Office LLC Lowers Stake in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Callan Family Office LLC reduced its stake in Analog Devices, Inc. by 20.0% in the first quarter, now holding 6,010 shares valued at approximately $1.21 million.
• Several institutional investors increased their holdings in Analog Devices, with 86.81% of the company owned by hedge funds and other institutional investors.
• Analog Devices reported a quarterly EPS of $1.85, surpassing estimates, and announced a quarterly dividend of $0.99 per share, indicating a 107.90% dividend payout ratio.

Callan Family Office LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 20.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,010 shares of the semiconductor company's stock after selling 1,506 shares during the quarter. Callan Family Office LLC's holdings in Analog Devices were worth $1,212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hemington Wealth Management lifted its holdings in Analog Devices by 11.4% in the first quarter. Hemington Wealth Management now owns 538 shares of the semiconductor company's stock valued at $108,000 after acquiring an additional 55 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Analog Devices by 14.8% in the first quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company's stock valued at $89,000 after acquiring an additional 57 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Analog Devices by 0.4% in the first quarter. Proficio Capital Partners LLC now owns 14,523 shares of the semiconductor company's stock valued at $2,929,000 after acquiring an additional 58 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Analog Devices by 1.1% during the 1st quarter. Alps Advisors Inc. now owns 5,688 shares of the semiconductor company's stock worth $1,147,000 after purchasing an additional 60 shares during the last quarter. Finally, Sfmg LLC raised its holdings in Analog Devices by 2.7% in the 1st quarter. Sfmg LLC now owns 2,301 shares of the semiconductor company's stock valued at $464,000 after buying an additional 60 shares during the period. Institutional investors own 86.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Williams Trading set a $260.00 price target on Analog Devices in a research note on Friday, May 23rd. Barclays boosted their price objective on Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Noble Financial raised Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. Finally, UBS Group dropped their target price on Analog Devices from $285.00 to $280.00 and set a "buy" rating for the company in a research report on Monday, July 7th. 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $258.89.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded down $4.58 during midday trading on Friday, hitting $231.63. 3,825,918 shares of the stock were exchanged, compared to its average volume of 3,942,494. The stock has a market cap of $114.95 billion, a P/E ratio of 63.11, a PEG ratio of 2.19 and a beta of 1.05. 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 twelve month low of $158.65 and a twelve month high of $247.73. The company has a 50 day moving average price of $233.51 and a 200-day moving average price of $216.09.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping 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 business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the company posted $1.40 EPS. The company's revenue was up 22.3% on a year-over-year basis. On average, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is 107.90%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the sale, the director directly owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company 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.