NBW Capital LLC Lowers Position in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• NBW Capital LLC reduced its stake in Analog Devices, Inc. by 21.2%, owning 36,371 shares after selling 9,784 shares in the first quarter.
• Analog Devices recently reported a strong quarterly performance, with earnings per share of $1.85 exceeding the consensus estimate of $1.70 and a revenue increase of 22.3% year-over-year.
• The company has announced a quarterly dividend of $0.99, with a dividend yield of 1.8% and a payout ratio of 107.90%.

NBW Capital LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 21.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,371 shares of the semiconductor company's stock after selling 9,784 shares during the period. Analog Devices comprises approximately 1.6% of NBW Capital LLC's investment portfolio, making the stock its 17th biggest holding. NBW Capital LLC's holdings in Analog Devices were worth $7,335,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its position in Analog Devices by 284.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company's stock worth $6,262,000 after purchasing an additional 22,973 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Analog Devices in the 4th quarter valued at $10,212,000. Sowell Financial Services LLC acquired a new stake in Analog Devices in the 1st quarter valued at $296,000. Keybank National Association OH grew its stake in Analog Devices by 85.8% in the 1st quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock valued at $5,461,000 after acquiring an additional 12,505 shares during the period. Finally, Eastern Bank grew its stake in Analog Devices by 6.0% in the 1st quarter. Eastern Bank now owns 196,677 shares of the semiconductor company's stock valued at $39,664,000 after acquiring an additional 11,101 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADI. Citigroup reaffirmed a "buy" rating and set a $290.00 price objective (up previously from $260.00) on shares of Analog Devices in a research note on Monday, July 7th. Noble Financial raised shares of Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. KGI Securities began coverage on shares of Analog Devices in a research note on Friday, May 23rd. They set a "buy" rating for the company. Raymond James Financial raised shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research note on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

Insider Activity at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the sale, the director owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $0.83 during mid-day trading on Friday, hitting $223.95. 3,078,240 shares of the company were exchanged, compared to its average volume of 3,379,463. The stock has a 50 day simple moving average of $232.32 and a 200-day simple moving average of $215.72. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.73. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The firm has a market cap of $111.14 billion, a price-to-earnings ratio of 61.02, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05.

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 the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the prior year, the company posted $1.40 earnings per share. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.8%. Analog Devices's dividend payout ratio (DPR) is 107.90%.

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.