Fiduciary Alliance LLC Sells 1,896 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fiduciary Alliance LLC lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 30.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,304 shares of the semiconductor company's stock after selling 1,896 shares during the quarter. Fiduciary Alliance LLC's holdings in Analog Devices were worth $868,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Broderick Brian C boosted its position in Analog Devices by 2.6% during 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 during the last quarter. Freestone Grove Partners LP acquired a new position in shares of Analog Devices in the fourth quarter valued at $10,212,000. Vest Financial LLC raised its position in shares of Analog Devices by 47.7% in the fourth quarter. Vest Financial LLC now owns 6,977 shares of the semiconductor company's stock valued at $1,482,000 after purchasing an additional 2,252 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Analog Devices by 2.0% during the 4th quarter. CIBC Asset Management Inc now owns 183,227 shares of the semiconductor company's stock worth $38,928,000 after buying an additional 3,529 shares during the last quarter. Finally, Hickory Asset Management Inc. bought a new stake in shares of Analog Devices during the 4th quarter worth about $366,000. Institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

NASDAQ:ADI traded up $4.22 during trading hours on Friday, hitting $222.26. The company's stock had a trading volume of 3,246,027 shares, compared to its average volume of 3,556,407. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a fifty day simple moving average of $199.58 and a 200-day simple moving average of $210.32. The company has a market capitalization of $110.30 billion, a P/E ratio of 70.78, a PEG ratio of 2.85 and a beta of 1.00.

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

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Insider Buying and Selling at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. TD Cowen raised their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Citigroup increased their target price on Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald upped their price objective on Analog Devices from $230.00 to $250.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Finally, Williams Trading set a $260.00 target price on Analog Devices in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $248.63.

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.