Fort Washington Investment Advisors Inc. OH Sells 3,689 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fort Washington Investment Advisors Inc. OH decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 259,678 shares of the semiconductor company's stock after selling 3,689 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.05% of Analog Devices worth $52,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock worth $397,000 after buying an additional 529 shares during the last quarter. Savant Capital LLC raised its position in Analog Devices by 12.0% during the 4th quarter. Savant Capital LLC now owns 9,316 shares of the semiconductor company's stock worth $1,979,000 after buying an additional 997 shares during the last quarter. Sovran Advisors LLC purchased a new position in Analog Devices during the 4th quarter worth $261,000. Portfolio Design Labs LLC grew its stake in shares of Analog Devices by 33.9% during the 4th quarter. Portfolio Design Labs LLC now owns 11,118 shares of the semiconductor company's stock worth $2,362,000 after purchasing an additional 2,817 shares during the period. Finally, L. Roy Papp & Associates LLP grew its stake in shares of Analog Devices by 1.3% during the 4th quarter. L. Roy Papp & Associates LLP now owns 36,805 shares of the semiconductor company's stock worth $7,820,000 after purchasing an additional 480 shares during the period. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analyst Ratings Changes

ADI has been the subject of several recent research reports. Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. Piper Sandler dropped their target price on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Cowen restated a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Cantor Fitzgerald raised their target price on shares of Analog Devices from $230.00 to $250.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company restated a "positive" rating on shares of Analog Devices in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and a consensus price target of $248.63.

Insider Transactions at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the 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 sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the sale, the director now owns 180,071 shares in the company, valued at $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,934 shares of company stock valued at $6,643,956. 0.33% of the stock is owned by insiders.

Analog Devices Stock Performance

NASDAQ:ADI traded down $7.09 during trading hours on Friday, hitting $225.03. 3,349,531 shares of the company traded hands, compared to its average volume of 3,576,995. The stock has a market capitalization of $111.67 billion, a price-to-earnings ratio of 71.67, a P/E/G ratio of 2.85 and a beta of 1.00. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The firm has a 50-day moving average of $204.95 and a 200 day moving average of $210.70. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.15. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 EPS. On average, analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Analog Devices declared that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

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.