Mar Vista Investment Partners LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 156,354 shares of the semiconductor company's stock after selling 27,484 shares during the quarter. Analog Devices accounts for 2.6% of Mar Vista Investment Partners LLC's holdings, making the stock its 20th biggest holding. Mar Vista Investment Partners LLC's holdings in Analog Devices were worth $31,532,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of ADI. Orion Capital Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $27,000. Menard Financial Group LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $27,000. Alpine Bank Wealth Management bought a new position in shares of Analog Devices in the first quarter valued at approximately $27,000. Hopwood Financial Services Inc. bought a new position in shares of Analog Devices in the fourth quarter valued at approximately $30,000. Finally, Cassady Schiller Wealth Management LLC lifted its holdings in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 55 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently commented on ADI. Williams Trading set a $260.00 price target on Analog Devices in a report on Friday, May 23rd. Cfra Research lowered Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, May 22nd. KeyCorp boosted their target price on Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday. KGI Securities assumed coverage on Analog Devices in a research note on Friday, May 23rd. They issued a "buy" rating on the stock. Finally, Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $257.67.
Read Our Latest Stock Report on Analog Devices
Insiders Place Their Bets
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 142,996 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm's 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 sale, the director directly owned 180,071 shares in the company, valued at approximately $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 ninety days, insiders sold 16,250 shares of company stock worth $3,143,556. 0.33% of the stock is owned by insiders.
Analog Devices Stock Performance
Shares of ADI opened at $245.13 on Friday. The business's fifty day simple moving average is $225.10 and its two-hundred day simple moving average is $213.59. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.73. The company has a market cap of $121.65 billion, a price-to-earnings ratio of 66.79, a P/E/G ratio of 2.24 and a beta of 1.02.
Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company's 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. Research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.
Analog Devices Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors 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 dividend on an annualized basis and a yield of 1.62%. Analog Devices's dividend payout ratio is currently 107.90%.
About Analog Devices
(
Free Report)
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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