Johnson Investment Counsel Inc. Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Johnson Investment Counsel Inc. cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 424,367 shares of the semiconductor company's stock after selling 2,617 shares during the period. Johnson Investment Counsel Inc. owned approximately 0.09% of Analog Devices worth $85,582,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Analog Devices during the 4th quarter valued at $1,755,958,000. Raymond James Financial Inc. purchased a new stake in Analog Devices during the fourth quarter valued at $833,386,000. Proficio Capital Partners LLC increased its position in Analog Devices by 22,005.0% during 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 acquiring an additional 3,059,349 shares during the last quarter. GAMMA Investing LLC lifted 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 valued at $446,037,000 after acquiring an additional 2,203,062 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its position in Analog Devices by 301.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after purchasing an additional 1,186,981 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Up 1.0%

ADI stock opened at $229.65 on Thursday. 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, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. The business has a 50 day simple moving average of $207.54 and a two-hundred day simple moving average of $211.05. The company has a market capitalization of $113.96 billion, a price-to-earnings ratio of 62.58, a PEG ratio of 2.10 and a beta of 1.00.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 18.65% and a return on equity of 9.56%. Analog Devices's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.72%. Analog Devices's dividend payout ratio (DPR) is 107.90%.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer now directly owns 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the sale, the director now owns 180,071 shares in the company, valued at $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 three months, insiders have sold 28,934 shares of company stock worth $5,807,196. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ADI. Piper Sandler reduced their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Cantor Fitzgerald raised shares of Analog Devices from a "neutral" rating to an "overweight" rating and upped their target price for the company from $250.00 to $270.00 in a report on Wednesday. Oppenheimer lifted their price target on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. 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. Finally, TD Cowen raised their target price on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $251.75.

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.

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