Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Nicolet Advisory Services LLC

Key Points

• Nicolet Advisory Services LLC decreased its stake in Analog Devices by 24.1%, owning 4,194 shares worth approximately $846,000 after selling 1,330 shares in the first quarter.
• China Universal Asset Management significantly increased its holdings in Analog Devices by 284.4%, becoming one of the major players with 31,050 shares valued at approximately $6,262,000.
• Despite some sell-offs, the company reported strong financial results, with a 22.3% year-over-year revenue increase and earnings per share of $1.85, exceeding analyst estimates.

Nicolet Advisory Services LLC decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 24.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,194 shares of the semiconductor company's stock after selling 1,330 shares during the period. Nicolet Advisory Services LLC's holdings in Analog Devices were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new position in shares of Analog Devices during the 4th quarter valued at $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices in the 4th quarter worth $27,000. Alpine Bank Wealth Management purchased a new stake in Analog Devices in the 1st quarter worth $27,000. N.E.W. Advisory Services LLC purchased a new stake in Analog Devices in the 1st quarter worth $33,000. Finally, North Capital Inc. purchased a new stake in Analog Devices in the 1st quarter worth $36,000. Institutional investors own 86.81% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ADI. 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 note on Friday, May 23rd. KGI Securities initiated coverage on shares of Analog Devices in a research report on Friday, May 23rd. They set a "buy" rating on the stock. Oppenheimer upped 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. Piper Sandler decreased their target price on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Finally, UBS Group decreased their target price on shares of Analog Devices from $285.00 to $280.00 and set a "buy" rating on the stock in a research report on Monday, July 7th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the sale, the director directly owned 167,571 shares in the company, valued at $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company's stock.

Analog Devices Trading Up 0.3%

ADI stock traded up $0.69 during mid-day trading on Monday, reaching $222.40. The company had a trading volume of 2,847,623 shares, compared to its average volume of 3,454,398. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The company has a market capitalization of $110.37 billion, a PE ratio of 60.60, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05. The firm has a 50 day moving average of $231.54 and a 200 day moving average of $215.64. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.73.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm earned $1.40 EPS. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

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