Lbp Am Sa Sells 23,417 Shares of Analog Devices, Inc. (NASDAQ:ADI)

LBP AM SA lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 33.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,508 shares of the semiconductor company's stock after selling 23,417 shares during the period. LBP AM SA's holdings in Analog Devices were worth $9,581,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ADI. Norges Bank acquired a new position in Analog Devices during the fourth quarter worth $1,755,958,000. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 2,203,062 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of 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 valued at $335,933,000 after purchasing an additional 1,186,981 shares during the last quarter. Deutsche Bank AG grew its position in shares of Analog Devices by 71.0% in the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock valued at $458,683,000 after purchasing an additional 896,694 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Analog Devices by 25.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company's stock valued at $708,260,000 after buying an additional 668,023 shares during the period. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the transaction, the director directly owned 180,071 shares of the company's stock, valued at $35,265,104.64. This represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the transaction, the chief executive officer owned 142,996 shares in the company, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,250 shares of company stock worth $3,143,556. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. The Goldman Sachs Group initiated coverage on Analog Devices in a report on Thursday. They set a "buy" rating and a $285.00 target price on the stock. Evercore ISI increased their target price on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Keefe, Bruyette & Woods upgraded Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. Finally, UBS Group dropped their price objective on shares of Analog Devices from $285.00 to $280.00 and set a "buy" rating for the company in a research report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $257.67.

Analog Devices Stock Performance

Shares of ADI stock traded down $0.45 on Friday, reaching $244.68. The stock had a trading volume of 2,035,790 shares, compared to its average volume of 3,602,437. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The firm's 50-day moving average is $226.02 and its two-hundred day moving average is $213.78. The firm has a market capitalization of $121.42 billion, a price-to-earnings ratio of 66.67, a P/E/G ratio of 2.26 and a beta of 1.02. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.73.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. Analog Devices's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 EPS. On average, research analysts expect 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 was paid on Wednesday, June 18th. Shareholders 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 yield of 1.62%. Analog Devices's dividend payout ratio is currently 107.90%.

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.