Analog Devices, Inc. (NASDAQ:ADI) Holdings Decreased by Somerville Kurt F

Somerville Kurt F cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,626 shares of the semiconductor company's stock after selling 3,031 shares during the quarter. Analog Devices makes up 3.2% of Somerville Kurt F's investment portfolio, making the stock its 11th largest position. Somerville Kurt F's holdings in Analog Devices were worth $18,277,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Orion Capital Management LLC acquired a new stake in Analog Devices in the 4th quarter worth about $27,000. Menard Financial Group LLC purchased a new position in shares of Analog Devices during the 4th quarter worth about $27,000. Alpine Bank Wealth Management acquired a new stake in shares of Analog Devices in the first quarter worth approximately $27,000. North Capital Inc. purchased a new stake in Analog Devices in the first quarter valued at approximately $36,000. Finally, Wolff Wiese Magana LLC grew its holdings in Analog Devices by 209.8% in the first quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ADI shares. TD Cowen increased their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Morgan Stanley dropped their price objective on Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a report 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. Cowen reissued a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Citigroup restated a "buy" rating and issued a $290.00 price objective (up from $260.00) on shares of Analog Devices in a report on Monday, July 7th. Six research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and a consensus target price of $258.89.

Analog Devices Stock Down 0.7%

Analog Devices stock traded down $1.71 during midday trading on Thursday, hitting $226.37. 4,770,909 shares of the stock were exchanged, compared to its average volume of 3,185,868. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The firm has a market cap of $112.34 billion, a P/E ratio of 61.68, a P/E/G ratio of 2.10 and a beta of 1.02. The company has a 50 day moving average price of $230.63 and a two-hundred day moving average price of $215.12.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its 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. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm earned $1.40 earnings per share. The company's revenue was up 22.3% on a year-over-year basis. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the sale, the director owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 sale, the chief executive officer owned 142,996 shares of the company's stock, 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. Over the last quarter, insiders have sold 16,250 shares of company stock valued at $3,327,994. Company insiders own 0.33% of the company's stock.

Analog Devices 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.