Manning & Napier Advisors LLC Sells 24,776 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Manning & Napier Advisors LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 27.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,107 shares of the semiconductor company's stock after selling 24,776 shares during the quarter. Manning & Napier Advisors LLC's holdings in Analog Devices were worth $13,533,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Analog Devices in the fourth quarter valued at $1,755,958,000. Raymond James Financial Inc. purchased a new position in shares of Analog Devices in the fourth quarter valued at $833,386,000. Proficio Capital Partners LLC grew its position in shares of 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 in the last quarter. GAMMA Investing LLC increased its stake in Analog Devices by 25,460.1% in the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock worth $446,037,000 after acquiring an additional 2,203,062 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its stake in Analog Devices by 301.1% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after acquiring an additional 1,186,981 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,968,400.00. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock valued at $3,143,556 in the last 90 days. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADI. Noble Financial upgraded Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. Cfra Research lowered Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Cowen reiterated a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Citigroup increased their price objective on Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, May 19th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and an average target price of $251.75.

Analog Devices Trading Up 1.2%

ADI traded up $2.63 during midday trading on Monday, reaching $230.98. 3,572,704 shares of the company's stock traded hands, compared to its average volume of 3,565,529. The firm has a fifty day moving average of $209.55 and a two-hundred day moving average of $211.06. The stock has a market capitalization of $114.62 billion, a price-to-earnings ratio of 62.94, a P/E/G ratio of 2.11 and a beta of 1.00. 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 52 week low of $158.65 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly 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 business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. Analog Devices's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.40 EPS. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

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.