Sterling Investment Counsel LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Sterling Investment Counsel LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 358.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,354 shares of the semiconductor company's stock after acquiring an additional 3,404 shares during the period. Sterling Investment Counsel LLC's holdings in Analog Devices were worth $878,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Brighton Jones LLC grew its position in Analog Devices by 39.5% in the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after buying an additional 529 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Analog Devices by 11.2% during the 4th quarter. Principal Securities Inc. now owns 8,817 shares of the semiconductor company's stock worth $1,873,000 after buying an additional 888 shares during the last quarter. Allworth Financial LP raised its stake in shares of Analog Devices by 2.3% during the 4th quarter. Allworth Financial LP now owns 8,750 shares of the semiconductor company's stock worth $1,961,000 after buying an additional 194 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Analog Devices by 5.0% during the 4th quarter. Principal Financial Group Inc. now owns 635,955 shares of the semiconductor company's stock worth $135,115,000 after buying an additional 30,359 shares during the last quarter. Finally, Empower Advisory Group LLC acquired a new position in Analog Devices in the 4th quarter valued at about $207,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, the director now owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. This trade represents a 1.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the transaction, the chief executive officer now directly owns 142,996 shares in the company, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,934 shares of company stock valued at $5,807,196 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ADI shares. Barclays boosted 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. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a report on Friday, May 23rd. Morgan Stanley decreased their price target on Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. JPMorgan Chase & Co. upped their price target on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, UBS Group cut their target price on Analog Devices from $295.00 to $285.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and an average price target of $251.75.

Analog Devices Price Performance

Shares of ADI opened at $229.65 on Thursday. The company has a market cap of $113.96 billion, a P/E ratio of 62.58, a PEG ratio of 2.10 and a beta of 1.00. The stock has a fifty day moving average price of $207.54 and a 200 day moving average price of $211.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business earned $1.40 EPS. The firm's revenue was up 22.3% on a year-over-year basis. On average, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.72%. Analog Devices's dividend payout ratio is currently 107.90%.

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.

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.