QRG Capital Management Inc. Has $20.23 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

QRG Capital Management Inc. lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,305 shares of the semiconductor company's stock after selling 7,500 shares during the quarter. QRG Capital Management Inc.'s holdings in Analog Devices were worth $20,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Capital Management LLC bought a new stake in Analog Devices during the 4th quarter worth approximately $27,000. Menard Financial Group LLC bought a new stake in shares of Analog Devices during the fourth quarter worth $27,000. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices during the fourth quarter worth $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at $30,000. Finally, Cassady Schiller Wealth Management LLC raised its holdings in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares during the last quarter. Institutional investors own 86.81% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADI. UBS Group reduced their target price on shares of Analog Devices from $295.00 to $285.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note on Friday, May 23rd. Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Barclays raised their target price on shares of Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Finally, Piper Sandler lowered their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $250.50.

Analog Devices Stock Up 3.0%

Shares of NASDAQ:ADI traded up $6.77 during midday trading on Monday, reaching $231.80. 3,344,116 shares of the company were exchanged, compared to its average volume of 3,576,059. The firm has a market cap of $115.03 billion, a PE ratio of 73.82, a P/E/G ratio of 2.85 and a beta of 1.00. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The stock has a fifty day simple moving average of $204.95 and a two-hundred day simple moving average of $210.70. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released 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 the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.71%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Analog Devices declared that its board has approved a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the sale, the chief executive officer now directly owns 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,934 shares of company stock worth $6,643,956 over the last ninety days. Insiders own 0.33% of the company's stock.

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.