Oppenheimer Asset Management Inc. Cuts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Oppenheimer Asset Management Inc. reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,632 shares of the semiconductor company's stock after selling 15,420 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Analog Devices were worth $17,471,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ADI. Midwest Professional Planners LTD. grew its stake in Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after acquiring an additional 53 shares in the last quarter. 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. Cassady Schiller Wealth Management LLC lifted its position 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 buying an additional 55 shares in the last quarter. Continuum Advisory LLC boosted its stake in Analog Devices by 14.8% during the first quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company's stock worth $89,000 after buying an additional 57 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in Analog Devices by 1.3% in the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company's stock valued at $1,114,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Activity

In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares of the company's stock, valued at $33,576,907.41. This represents a 1.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred 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 now directly owns 142,996 shares in the company, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,250 shares of company stock worth $3,143,556. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a report on Monday, May 19th. Cowen restated a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Morgan Stanley lowered their price objective on Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Evercore ISI lifted their target price on Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Finally, Noble Financial raised Analog Devices to an "outperform" rating in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.75.

Analog Devices Stock Up 1.2%

NASDAQ ADI traded up $2.63 on Monday, hitting $230.98. 3,572,704 shares of the stock were exchanged, compared to its average volume of 3,565,533. The company has a market cap of $114.62 billion, a PE ratio of 62.94, a PEG ratio of 2.11 and a beta of 1.00. The company has a 50-day moving average price of $210.60 and a 200-day moving average price of $211.15. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.

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 for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. The company 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%. Analog Devices's quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the firm earned $1.40 earnings per share. Sell-side analysts anticipate 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. Stockholders of record on Wednesday, June 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.71%. Analog Devices's dividend payout ratio is presently 107.90%.

About Analog Devices

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.