Parr Mcknight Wealth Management Group LLC Sells 6,097 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Parr Mcknight Wealth Management Group LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 16.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,549 shares of the semiconductor company's stock after selling 6,097 shares during the quarter. Analog Devices accounts for 0.9% of Parr Mcknight Wealth Management Group LLC's holdings, making the stock its 25th biggest holding. Parr Mcknight Wealth Management Group LLC's holdings in Analog Devices were worth $6,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after purchasing an additional 413,084 shares during the last quarter. Geode Capital Management LLC grew its stake in Analog Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock worth $2,248,971,000 after purchasing an additional 247,737 shares during the period. Norges Bank acquired a new stake in Analog Devices during the fourth quarter worth approximately $1,755,958,000. FMR LLC boosted its holdings in Analog Devices by 0.8% in the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock worth $1,582,831,000 after acquiring an additional 61,390 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Analog Devices by 8.4% in the fourth quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock worth $1,173,026,000 after acquiring an additional 427,328 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the transaction, the chief executive officer directly owned 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director directly owned 180,071 shares of the company's stock, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,250 shares of company stock valued at $3,143,556. 0.33% of the stock is owned by company insiders.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $0.12 during mid-day trading on Friday, hitting $245.25. The company had a trading volume of 911,078 shares, compared to its average volume of 3,595,789. The company has a market capitalization of $121.70 billion, a price-to-earnings ratio of 66.88, a P/E/G ratio of 2.24 and a beta of 1.02. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.73. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average price is $225.10 and its 200-day moving average price is $213.59.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. The company had revenue of $2.64 billion during 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%. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 earnings per share. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Analyst Ratings Changes

Several research analysts have issued reports on ADI shares. KGI Securities started coverage on Analog Devices in a report on Friday, May 23rd. They issued a "buy" rating on the stock. Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. UBS Group cut their price target on Analog Devices from $285.00 to $280.00 and set a "buy" rating on the stock in a report on Monday. Evercore ISI increased their price target on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, Citigroup restated a "buy" rating and issued a $290.00 target price (up previously from $260.00) on shares of Analog Devices in a report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus price target of $257.67.

Analog Devices Company 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.