Envestnet Portfolio Solutions Inc. Cuts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Envestnet Portfolio Solutions Inc. trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 10.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,994 shares of the semiconductor company's stock after selling 7,477 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Analog Devices were worth $12,906,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Analog Devices by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after acquiring an additional 413,084 shares during the period. Geode Capital Management LLC grew its position in Analog Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after buying an additional 247,737 shares during the last quarter. Norges Bank purchased a new position in Analog Devices in the 4th quarter valued at $1,755,958,000. FMR LLC grew its position in Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock valued at $1,582,831,000 after buying an additional 61,390 shares during the last quarter. Finally, Northern Trust Corp grew its position in Analog Devices by 8.4% in the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock valued at $1,173,026,000 after buying an additional 427,328 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ADI. KGI Securities began coverage on shares of Analog Devices in a research report on Friday, May 23rd. They issued a "buy" rating on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Cantor Fitzgerald upgraded shares of Analog Devices from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $250.00 to $270.00 in a research report on Wednesday, June 18th. TD Cowen lifted their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of Analog Devices from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and an average target price of $251.75.

Analog Devices Price Performance

Shares of Analog Devices stock traded up $2.63 on Monday, hitting $230.98. The company's stock had a trading volume of 3,572,704 shares, compared to its average volume of 3,565,529. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $210.60 and a 200-day moving average price of $211.15. The company has a market capitalization of $114.62 billion, a P/E ratio of 62.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.00.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the firm earned $1.40 EPS. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. On average, equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.71%. Analog Devices's dividend payout ratio is presently 107.90%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer now directly owns 142,996 shares in the company, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares in the company, valued at approximately $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock worth $3,143,556 in the last three months. Corporate insiders own 0.33% of the company's stock.

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.