Campbell Newman Asset Management Inc. Trims Position in Analog Devices, Inc. (NASDAQ:ADI)

Campbell Newman Asset Management Inc. trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 35.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,955 shares of the semiconductor company's stock after selling 70,487 shares during the period. Analog Devices makes up 2.2% of Campbell Newman Asset Management Inc.'s portfolio, making the stock its 19th biggest holding. Campbell Newman Asset Management Inc.'s holdings in Analog Devices were worth $26,006,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Broderick Brian C increased its holdings in shares of Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after purchasing an additional 2,017 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Analog Devices during the 4th quarter worth $10,212,000. CIBC Asset Management Inc raised its stake in shares of Analog Devices by 2.0% in the 4th quarter. CIBC Asset Management Inc now owns 183,227 shares of the semiconductor company's stock valued at $38,928,000 after purchasing an additional 3,529 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $906,000. Finally, Hickory Asset Management Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $366,000. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business'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 sale, the chief executive officer now owns 142,996 shares in the company, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,934 shares of company stock worth $6,643,956 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. TD Cowen lifted their price target on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research note on Friday, May 23rd. Cowen restated a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. Barclays upped their price target on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Finally, Morgan Stanley decreased their price objective on Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $250.50.

Analog Devices Price Performance

Shares of Analog Devices stock traded up $6.77 during trading hours on Monday, reaching $231.80. The company's stock had a trading volume of 3,344,116 shares, compared to its average volume of 3,576,060. The stock has a market cap of $115.03 billion, a P/E ratio of 73.82, a P/E/G ratio of 2.85 and a beta of 1.00. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The firm has a 50 day moving average price of $206.26 and a 200-day moving average price of $210.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.15. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company's revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 EPS. On average, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.71%. Analog Devices's payout ratio is currently 107.90%.

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.