Manning & Napier Advisors LLC Decreases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Center for Financial Planning Inc. grew its position in Analog Devices by 18.8% during the 1st quarter. Center for Financial Planning Inc. now owns 1,454 shares of the semiconductor company's stock worth $293,000 after acquiring an additional 230 shares during the last quarter. Absher Wealth Management LLC grew its position in Analog Devices by 7.5% during the 1st quarter. Absher Wealth Management LLC now owns 154,233 shares of the semiconductor company's stock worth $31,104,000 after acquiring an additional 10,727 shares during the last quarter. First American Bank grew its position in Analog Devices by 1.1% during the 1st quarter. First American Bank now owns 57,508 shares of the semiconductor company's stock worth $11,598,000 after acquiring an additional 626 shares during the last quarter. Weaver Capital Management LLC grew its position in Analog Devices by 2.9% during the 1st quarter. Weaver Capital Management LLC now owns 4,109 shares of the semiconductor company's stock worth $829,000 after acquiring an additional 117 shares during the last quarter. Finally, Norway Savings Bank grew its position in Analog Devices by 0.6% during the 1st quarter. Norway Savings Bank now owns 13,221 shares of the semiconductor company's stock worth $2,666,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Down 0.1%

ADI stock traded down $0.30 during trading on Wednesday, reaching $234.68. 3,548,623 shares of the stock were exchanged, compared to its average volume of 3,576,557. The firm's 50 day moving average is $211.70 and its 200 day moving average is $211.32. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The firm has a market cap of $116.46 billion, a P/E ratio of 63.95, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly 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 business had revenue of $2.64 billion for 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 firm's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.40 EPS. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Analysts Set New Price Targets

ADI has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Noble Financial upgraded Analog Devices to an "outperform" rating in a research report on Wednesday, June 18th. Benchmark reiterated a "buy" rating and issued a $260.00 price target (down previously from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Cowen reiterated a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and an average price target of $251.75.

Insider Transactions at Analog Devices

In related news, 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 completion of the sale, the chief executive officer now directly owns 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now directly owns 186,321 shares of the company's stock, valued at $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock valued at $3,143,556 over the last ninety days. 0.33% of the stock is currently owned by insiders.

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.