Global X Japan Co. Ltd. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 12.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,486 shares of the semiconductor company's stock after selling 2,134 shares during the quarter. Global X Japan Co. Ltd.'s holdings in Analog Devices were worth $2,921,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth about $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth about $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth about $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Analog Devices during the 4th quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 86.81% of the company's stock.
Insider Activity
In related news, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, the director now owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,934 shares of company stock worth $5,807,196. 0.33% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on ADI shares. Keefe, Bruyette & Woods upgraded Analog Devices to an "outperform" rating in a report on Wednesday. Cowen reissued a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. UBS Group reduced their price target on Analog Devices from $295.00 to $285.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Finally, Morgan Stanley reduced their price target on Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $251.75.
Check Out Our Latest Stock Report on ADI
Analog Devices Stock Performance
Shares of ADI opened at $229.65 on Thursday. The business's 50 day moving average is $207.54 and its two-hundred day moving average is $211.05. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The firm has a market cap of $113.96 billion, a price-to-earnings ratio of 62.58, a PEG ratio of 2.10 and a beta of 1.00. 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 (NASDAQ:ADI - Get Free Report) last announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the company posted $1.40 EPS. Analog Devices's quarterly revenue was up 22.3% on a year-over-year basis. Analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.
Analog Devices Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.72%. Analog Devices's dividend payout ratio (DPR) is 107.90%.
About Analog Devices
(
Free Report)
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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