Red Cedar Investment Management LLC Sells 4,214 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Red Cedar Investment Management LLC reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,780 shares of the semiconductor company's stock after selling 4,214 shares during the period. Red Cedar Investment Management LLC's holdings in Analog Devices were worth $3,384,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ADI. Broderick Brian C lifted its holdings in shares of Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after acquiring an additional 2,017 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of Analog Devices during the 4th quarter worth about $10,212,000. Sowell Financial Services LLC acquired a new stake in shares of Analog Devices during the 1st quarter worth about $296,000. Dynamic Advisor Solutions LLC lifted its holdings in Analog Devices by 4.3% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,072 shares of the semiconductor company's stock valued at $1,224,000 after purchasing an additional 251 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in Analog Devices by 282.9% in the first quarter. Golden State Wealth Management LLC now owns 1,099 shares of the semiconductor company's stock valued at $222,000 after buying an additional 812 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Up 1.1%

Shares of ADI traded up $2.62 on Tuesday, reaching $240.64. 3,500,630 shares of the company's stock were exchanged, compared to its average volume of 3,587,852. The business has a 50 day moving average price of $216.57 and a two-hundred day moving average price of $211.82. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The stock has a market capitalization of $119.42 billion, a P/E ratio of 65.57, a price-to-earnings-growth ratio of 2.20 and a beta of 1.01. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released 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. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The business's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 EPS. Research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Williams Trading set a $260.00 price objective on shares of Analog Devices in a report on Friday, May 23rd. Benchmark restated a "buy" rating and set a $260.00 price target (down from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Cowen reaffirmed a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. UBS Group reduced their price objective on Analog Devices from $295.00 to $285.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Finally, Piper Sandler lowered their target price on Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and an average price target of $251.75.

Insider Activity

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