Elevate Capital Advisors LLC Sells 1,194 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Elevate Capital Advisors LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 21.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,405 shares of the semiconductor company's stock after selling 1,194 shares during the quarter. Elevate Capital Advisors LLC's holdings in Analog Devices were worth $888,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Alta Advisers Ltd boosted its stake in Analog Devices by 48.9% in the first quarter. Alta Advisers Ltd now owns 2,436 shares of the semiconductor company's stock valued at $491,000 after acquiring an additional 800 shares during the period. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Analog Devices in the 1st quarter worth approximately $8,648,000. Smith Salley Wealth Management boosted its position in Analog Devices by 1.2% during the 1st quarter. Smith Salley Wealth Management now owns 104,318 shares of the semiconductor company's stock valued at $21,038,000 after purchasing an additional 1,188 shares during the period. Libra Wealth LLC bought a new position in Analog Devices during the 1st quarter worth $341,000. Finally, Koshinski Asset Management Inc. increased its position in Analog Devices by 2.6% in the first quarter. Koshinski Asset Management Inc. now owns 4,472 shares of the semiconductor company's stock worth $902,000 after buying an additional 113 shares during the period. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Up 1.1%

Shares of NASDAQ ADI traded up $2.62 during mid-day trading on Tuesday, hitting $240.64. The company had a trading volume of 3,500,630 shares, compared to its average volume of 3,582,751. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The company has a market capitalization of $119.42 billion, a PE ratio of 65.57, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $216.57 and a two-hundred day simple moving average of $211.82.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the prior year, the firm earned $1.40 EPS. Analog Devices's quarterly revenue was up 22.3% compared to the same quarter last year. On average, equities analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio is 107.90%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the 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 sale, the chief executive officer owned 142,996 shares of the company's stock, valued at $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director owned 180,071 shares of the company's stock, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock valued at $3,143,556 in the last quarter. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ADI shares. Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. Stifel Nicolaus boosted their target price on shares of Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. KGI Securities began coverage on shares of Analog Devices in a research note on Friday, May 23rd. They issued a "buy" rating on the stock. Raymond James Financial raised Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, June 18th. Finally, Citigroup increased their price objective on Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and a consensus price target of $251.75.

Analog Devices 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.