Freestone Capital Holdings LLC Decreases Holdings in Analog Devices, Inc. $ADI

Key Points

• Freestone Capital Holdings LLC reduced its holdings in Analog Devices, Inc. by 25.4% in Q1, selling 3,830 shares and retaining 11,225 shares valued at approximately $2.26 million.
• Several analysts have recently upgraded their ratings for Analog Devices, including Stifel Nicolaus, which raised its price target to $270.00 and gave a "buy" rating.
• The company reported strong earnings with a 22.3% revenue increase year-over-year and EPS of $1.85, exceeding estimates of $1.70.

Freestone Capital Holdings LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 25.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,225 shares of the semiconductor company's stock after selling 3,830 shares during the quarter. Freestone Capital Holdings LLC's holdings in Analog Devices were worth $2,264,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ADI. Orion Capital Management LLC bought a new position in shares of Analog Devices in the fourth quarter worth approximately $27,000. Menard Financial Group LLC bought a new position in shares of Analog Devices in the fourth quarter worth approximately $27,000. Alpine Bank Wealth Management bought a new position in shares of Analog Devices in the first quarter worth approximately $27,000. N.E.W. Advisory Services LLC bought a new stake in Analog Devices in the first quarter valued at $33,000. Finally, North Capital Inc. bought a new stake in Analog Devices in the first quarter valued at $36,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. The trade was a 1.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ADI shares. Stifel Nicolaus lifted their price target on shares of Analog Devices from $248.00 to $270.00 and gave the company a "buy" rating in a report on Friday, July 18th. Cowen reiterated a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. The Goldman Sachs Group started coverage on shares of Analog Devices in a report on Thursday, July 10th. They issued a "buy" rating and a $285.00 price target on the stock. Evercore ISI lifted their price target on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $258.89.

Analog Devices Price Performance

ADI opened at $231.63 on Monday. The stock has a 50-day moving average price of $233.70 and a 200-day moving average price of $216.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The firm has a market cap of $114.95 billion, a PE ratio of 63.11, a P/E/G ratio of 2.13 and a beta of 1.05. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.73.

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 (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. The firm had revenue of $2.64 billion during 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%. Analog Devices's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 EPS. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.7%. Analog Devices's payout ratio is 107.90%.

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.

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