Choreo LLC Has $4.41 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Choreo LLC decreased its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,861 shares of the semiconductor company's stock after selling 2,007 shares during the quarter. Choreo LLC's holdings in Analog Devices were worth $4,409,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. PFG Advisors grew its position in shares of Analog Devices by 32.3% in the 1st quarter. PFG Advisors now owns 16,521 shares of the semiconductor company's stock worth $3,332,000 after acquiring an additional 4,032 shares in the last quarter. Obermeyer Wealth Partners lifted its holdings in shares of Analog Devices by 5.5% in the 1st quarter. Obermeyer Wealth Partners now owns 10,188 shares of the semiconductor company's stock worth $2,055,000 after purchasing an additional 530 shares during the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Analog Devices by 2.1% in the 1st quarter. HighPoint Advisor Group LLC now owns 14,615 shares of the semiconductor company's stock worth $2,816,000 after purchasing an additional 307 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in shares of Analog Devices by 27.4% in the 1st quarter. Crestwood Advisors Group LLC now owns 41,407 shares of the semiconductor company's stock worth $8,351,000 after purchasing an additional 8,907 shares during the last quarter. Finally, Peterson Wealth Services lifted its holdings in shares of Analog Devices by 12.7% in the 1st quarter. Peterson Wealth Services now owns 9,167 shares of the semiconductor company's stock worth $1,849,000 after purchasing an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $1.45 during midday trading on Friday, hitting $227.82. 2,695,595 shares of the company's stock were exchanged, compared to its average volume of 3,271,526. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.73. The company's 50 day moving average price is $230.63 and its 200 day moving average price is $215.22. The firm has a market capitalization of $113.06 billion, a PE ratio of 62.08, a price-to-earnings-growth ratio of 2.10 and a beta of 1.02.

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, beating the consensus estimate of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company's revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 earnings per share. As a group, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.74%. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, May 1st. The stock was 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 directly owned 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction 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 transaction, the director directly owned 167,571 shares of the company's stock, valued at $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,250 shares of company stock valued at $3,327,994. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADI. UBS Group cut their price target on Analog Devices from $285.00 to $280.00 and set a "buy" rating on the stock in a report on Monday, July 7th. Cfra Research downgraded Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, May 22nd. Noble Financial raised Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Finally, Benchmark restated a "buy" rating and set a $260.00 price objective (down from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. Six 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $258.89.

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.