Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Portland Global Advisors LLC

Key Points

• Portland Global Advisors LLC reduced its holdings in Analog Devices, Inc. by 36.1% during the first quarter, now owning 2,565 shares valued at $517,000.
• Analog Devices reported an earnings per share (EPS) of $1.85 for the latest quarter, exceeding the consensus estimate by $0.15, with revenue rising 22.3% year-over-year.
• The company has declared a quarterly dividend of $0.99, reflecting a yield of 1.74%, despite a dividend payout ratio of 107.90%.

Portland Global Advisors LLC decreased its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 36.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,565 shares of the semiconductor company's stock after selling 1,449 shares during the period. Portland Global Advisors LLC's holdings in Analog Devices were worth $517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in Analog Devices by 25,460.1% during the first quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock worth $446,037,000 after acquiring an additional 2,203,062 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in Analog Devices by 301.1% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after acquiring an additional 1,186,981 shares during the last quarter. Deutsche Bank AG raised its position in Analog Devices by 71.0% during the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock worth $458,683,000 after acquiring an additional 896,694 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Analog Devices by 25.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company's stock worth $708,260,000 after acquiring an additional 668,023 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Analog Devices during the fourth quarter worth about $128,965,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Analysts Set New Price Targets

ADI has been the subject of a number of analyst reports. KeyCorp boosted their price objective on shares of Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Evercore ISI boosted their price objective on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Cowen reissued a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Benchmark reissued a "buy" rating and issued a $260.00 price objective (down previously from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Six 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.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Analog Devices Stock Down 2.9%

Shares of ADI stock traded down $6.60 on Thursday, hitting $224.51. The stock had a trading volume of 1,191,179 shares, compared to its average volume of 3,963,649. The firm has a market capitalization of $111.41 billion, a price-to-earnings ratio of 61.19, a P/E/G ratio of 2.13 and a beta of 1.02. The stock's 50 day moving average is $231.06 and its 200-day moving average is $215.53. 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, Inc. has a 52-week low of $158.65 and a 52-week high of $247.73.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.76%. Analog Devices's dividend payout ratio is presently 107.90%.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction 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 sale, the director directly owned 167,571 shares of the company's stock, valued at $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by corporate insiders.

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.