Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lessened its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 7.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 181,793 shares of the semiconductor company's stock after selling 14,200 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Analog Devices were worth $36,662,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC raised its stake in Analog Devices by 7.0% during the first quarter. Brighton Jones LLC now owns 1,998 shares of the semiconductor company's stock valued at $403,000 after purchasing an additional 131 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Analog Devices by 38.2% during the first quarter. Exchange Traded Concepts LLC now owns 24,668 shares of the semiconductor company's stock valued at $4,975,000 after purchasing an additional 6,813 shares in the last quarter. SFM LLC purchased a new stake in Analog Devices during the first quarter valued at $218,000. Ritholtz Wealth Management raised its stake in Analog Devices by 6.1% during the first quarter. Ritholtz Wealth Management now owns 6,609 shares of the semiconductor company's stock valued at $1,333,000 after purchasing an additional 379 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its stake in Analog Devices by 4.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 6,072 shares of the semiconductor company's stock valued at $1,224,000 after purchasing an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insider Activity 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 shares were 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 trade represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. This trade represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,934 shares of company stock valued at $6,643,956 in the last three months. 0.33% of the stock is owned by insiders.

Analog Devices Stock Down 3.1%

Shares of ADI stock traded down $7.09 during mid-day trading on Friday, hitting $225.03. 3,349,531 shares of the stock traded hands, compared to its average volume of 3,576,995. The stock has a market cap of $111.67 billion, a P/E ratio of 71.67, a P/E/G ratio of 2.85 and a beta of 1.00. The stock's fifty day moving average is $204.95 and its two-hundred day moving average is $210.75. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

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 the consensus estimate 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 net margin of 16.75% and a return on equity of 8.91%. The company's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 earnings per share. Equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, June 4th. Analog Devices's payout ratio is currently 107.90%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company reiterated a "positive" 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. Oppenheimer boosted their price objective on shares of Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Piper Sandler cut their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, TD Cowen upped their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $248.63.

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.