Morningstar Investment Services LLC lessened its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 48.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,599 shares of the semiconductor company's stock after selling 9,772 shares during the period. Morningstar Investment Services LLC's holdings in Analog Devices were worth $2,138,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of ADI. Portland Global Advisors LLC increased its holdings in shares of Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after purchasing an additional 53 shares during the last quarter. Continuum Advisory LLC increased its holdings in shares of Analog Devices by 14.8% in the first quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company's stock valued at $89,000 after purchasing an additional 57 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Analog Devices by 1.1% in the first quarter. Alps Advisors Inc. now owns 5,688 shares of the semiconductor company's stock valued at $1,147,000 after purchasing an additional 60 shares during the last quarter. Keystone Financial Services increased its holdings in shares of Analog Devices by 1.6% in the first quarter. Keystone Financial Services now owns 3,791 shares of the semiconductor company's stock valued at $765,000 after purchasing an additional 61 shares during the last quarter. Finally, Dakota Wealth Management increased its holdings in shares of Analog Devices by 0.7% in the first quarter. Dakota Wealth Management now owns 8,955 shares of the semiconductor company's stock valued at $1,806,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 86.81% of the company's stock.
Insiders Place Their Bets
In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 142,996 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction on 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 owned 180,071 shares in the company, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,250 shares of company stock worth $3,327,994. 0.33% of the stock is owned by company insiders.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Oppenheimer boosted their target price 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. Wells Fargo & Company set a $235.00 price objective on shares of Analog Devices and gave the stock an "equal weight" rating in a research report on Monday, June 16th. Finally, TD Cowen upped their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have given 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $258.89.
Check Out Our Latest Report on ADI
Analog Devices Trading Up 0.4%
Shares of Analog Devices stock traded up $0.88 on Friday, reaching $241.85. 2,761,631 shares of the company's stock were exchanged, compared to its average volume of 3,598,123. The company has a market capitalization of $120.02 billion, a P/E ratio of 65.90, a price-to-earnings-growth ratio of 2.23 and a beta of 1.02. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.73. The firm's 50-day moving average is $230.08 and its two-hundred day moving average is $214.68. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08.
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 (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the prior year, the business earned $1.40 EPS. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.
Analog Devices Dividend Announcement
The company 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. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio is currently 107.90%.
Analog Devices Company Profile
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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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