Envestnet Asset Management Inc. Sells 218,787 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Envestnet Asset Management Inc. lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,672,407 shares of the semiconductor company's stock after selling 218,787 shares during the quarter. Envestnet Asset Management Inc. owned about 0.34% of Analog Devices worth $337,274,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADI. Orion Capital Management LLC acquired a new position in Analog Devices during the 4th quarter valued at about $27,000. Menard Financial Group LLC bought a new stake in shares of Analog Devices during the fourth quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new position in Analog Devices in the first quarter valued at approximately $27,000. Hopwood Financial Services Inc. acquired a new position in Analog Devices in the fourth quarter valued at approximately $30,000. Finally, Cassady Schiller Wealth Management LLC grew its holdings in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 55 shares during the period. Institutional investors own 86.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ADI shares. Benchmark reissued a "buy" rating and issued a $260.00 price target (down previously from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. Cowen reissued a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. Oppenheimer boosted their target price on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Cfra Research downgraded shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company set a $235.00 price objective on shares of Analog Devices and gave the stock an "equal weight" rating in a research note on Monday, June 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Analog Devices has an average rating of "Moderate Buy" and an average target price of $256.06.

Analog Devices Stock Down 0.8%

ADI traded down $1.98 during trading on Wednesday, hitting $243.17. The company had a trading volume of 336,512 shares, compared to its average volume of 3,592,348. The company has a market capitalization of $120.68 billion, a PE ratio of 66.25, a PEG ratio of 2.23 and a beta of 1.02. 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 one year low of $158.65 and a one year high of $247.73. The firm's 50-day moving average price is $223.12 and its 200 day moving average price is $213.18.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 9.56% and a net margin of 18.65%. The company's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 earnings per share. As a group, equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders 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 1.63%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.

Insider Buying and Selling

In related news, Director Ray Stata sold 3,125 shares of the firm'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 completion of the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated 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 directly owned 142,996 shares in the company, valued at $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,250 shares of company stock valued at $3,143,556. Insiders own 0.33% of the company's stock.

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.