Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,736 shares of the semiconductor company's stock after selling 4,753 shares during the quarter. Handelsbanken Fonder AB's holdings in Analog Devices were worth $47,339,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Analog Devices in the 4th quarter worth $1,755,958,000. Raymond James Financial Inc. bought a new stake in Analog Devices during the fourth quarter valued at about $833,386,000. Proficio Capital Partners LLC grew its stake in Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after purchasing an additional 3,059,349 shares during the last quarter. GAMMA Investing LLC raised its holdings in Analog Devices by 25,460.1% in the first quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock worth $446,037,000 after purchasing an additional 2,203,062 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Analog Devices by 301.1% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after buying an additional 1,186,981 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

Shares of ADI stock traded down $7.09 during trading hours on Friday, hitting $225.03. The company's stock had a trading volume of 3,349,531 shares, compared to its average volume of 3,571,691. The stock has a market cap of $111.67 billion, a PE ratio of 71.67, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The company has a 50 day moving average of $204.95 and a 200 day moving average of $210.79. 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 posted 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. The company had revenue of $2.64 billion during 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 earnings per share. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices's dividend payout ratio is currently 107.90%.

Analog Devices announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

ADI has been the topic of a number of analyst reports. Cfra Research downgraded shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. KGI Securities initiated coverage on shares of Analog Devices in a report on Friday, May 23rd. They issued a "buy" rating on the stock. TD Cowen upped their price target on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Benchmark restated a "buy" rating and set a $260.00 target price (down from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and an average price target of $248.63.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director now directly owns 180,071 shares of the company's stock, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the chief financial officer now owns 49,916 shares of the company's stock, valued at $10,441,928.04. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,934 shares of company stock valued at $6,643,956. 0.33% of the stock is owned by company insiders.

About Analog Devices

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.