Hunter Perkins Capital Management LLC Sells 7,644 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Hunter Perkins Capital Management LLC lessened its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 13.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,162 shares of the semiconductor company's stock after selling 7,644 shares during the quarter. Analog Devices makes up about 2.3% of Hunter Perkins Capital Management LLC's investment portfolio, making the stock its 13th largest holding. Hunter Perkins Capital Management LLC's holdings in Analog Devices were worth $9,915,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Broderick Brian C raised its stake in Analog Devices by 2.6% during the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after buying an additional 2,017 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of Analog Devices in the fourth quarter worth about $10,212,000. Sowell Financial Services LLC purchased a new stake in Analog Devices during the 1st quarter valued at approximately $296,000. Dynamic Advisor Solutions LLC increased its holdings in Analog Devices by 4.3% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,072 shares of the semiconductor company's stock valued at $1,224,000 after acquiring an additional 251 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Analog Devices in the fourth quarter worth about $906,000. Institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $237.30 on Friday. The stock has a market capitalization of $117.76 billion, a P/E ratio of 64.66, a PEG ratio of 2.17 and a beta of 1.00. The business has a 50 day simple moving average of $214.10 and a two-hundred day simple moving average of $211.61. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company earned $1.40 EPS. The firm's revenue was up 22.3% compared to the same quarter last year. As a group, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.67%. Analog Devices's dividend payout ratio is presently 107.90%.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer now owns 142,996 shares of the company's stock, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction 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 transaction, the director now owns 180,071 shares of the company's stock, valued at approximately $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. Over the last 90 days, insiders have sold 16,250 shares of company stock worth $3,143,556. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ADI has been the topic of several analyst reports. Cantor Fitzgerald raised Analog Devices from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $250.00 to $270.00 in a research report on Wednesday, June 18th. Oppenheimer upped their target price on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. TD Cowen upped their target price on Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Morgan Stanley dropped their price target on Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $251.75.

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.

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