Impax Asset Management Group plc Cuts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Impax Asset Management Group plc lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 68.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 410,189 shares of the semiconductor company's stock after selling 906,766 shares during the quarter. Impax Asset Management Group plc owned about 0.08% of Analog Devices worth $81,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ADI. Catalyst Capital Advisors LLC boosted its holdings in Analog Devices by 92.0% in the first quarter. Catalyst Capital Advisors LLC now owns 1,434 shares of the semiconductor company's stock worth $289,000 after purchasing an additional 687 shares during the last quarter. Huntleigh Advisors Inc. boosted its stake in shares of Analog Devices by 2.2% in the 1st quarter. Huntleigh Advisors Inc. now owns 18,887 shares of the semiconductor company's stock worth $3,809,000 after buying an additional 399 shares during the last quarter. IFM Investors Pty Ltd increased its position in Analog Devices by 9.4% during the first quarter. IFM Investors Pty Ltd now owns 101,957 shares of the semiconductor company's stock valued at $20,562,000 after acquiring an additional 8,730 shares during the last quarter. GF Fund Management CO. LTD. boosted its position in Analog Devices by 1.9% in the first quarter. GF Fund Management CO. LTD. now owns 95,886 shares of the semiconductor company's stock worth $19,337,000 after purchasing an additional 1,827 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in shares of Analog Devices by 9.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 7,942 shares of the semiconductor company's stock valued at $1,602,000 after purchasing an additional 702 shares during the period. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

Shares of NASDAQ ADI traded up $0.93 during midday trading on Friday, reaching $246.08. 1,837,392 shares of the stock traded hands, compared to its average volume of 3,599,370. 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 stock has a market capitalization of $122.12 billion, a PE ratio of 67.05, a P/E/G ratio of 2.27 and a beta of 1.02. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The company's 50 day moving average is $221.10 and its 200 day moving average is $212.68.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors 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 1.61%. Analog Devices's dividend payout ratio is presently 107.90%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the 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 sale, the chief executive officer owned 142,996 shares in the company, valued at $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The transaction 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 completion of the sale, the director owned 180,071 shares in the company, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,250 shares of company stock valued at $3,143,556. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADI. Morgan Stanley reduced their price target on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. TD Cowen upped their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Barclays upped their price target on shares of Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Finally, Cowen reaffirmed a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus price target 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.