Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank holds a stake worth $282.17 million in Analog Devices, Inc., having reduced its holdings by 0.2% in the first quarter.
• Analog Devices reported a quarterly earnings per share of $1.85, exceeding expectations, with a revenue of $2.64 billion, up 22.3% year-over-year.
• The company declared a quarterly dividend of $0.99, resulting in a 1.8% yield, but has a payout ratio of 107.90%.

Swiss National Bank decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,399,175 shares of the semiconductor company's stock after selling 3,400 shares during the quarter. Swiss National Bank owned approximately 0.28% of Analog Devices worth $282,172,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ADI. Orion Capital Management LLC purchased a new stake in Analog Devices during the fourth quarter worth approximately $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices during the fourth quarter worth approximately $27,000. Alpine Bank Wealth Management purchased a new stake in Analog Devices during the first quarter worth approximately $27,000. N.E.W. Advisory Services LLC purchased a new stake in Analog Devices during the first quarter worth approximately $33,000. Finally, North Capital Inc. purchased a new stake in Analog Devices during the first quarter worth approximately $36,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

ADI stock traded up $0.83 during trading on Friday, reaching $223.95. 3,078,240 shares of the company were exchanged, compared to its average volume of 3,379,463. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. The stock's 50 day moving average price is $232.32 and its 200 day moving average price is $215.72. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.73. The company has a market cap of $111.14 billion, a P/E ratio of 61.02, a PEG ratio of 2.06 and a beta of 1.05.

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 analysts' consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period last year, the firm earned $1.40 EPS. As a group, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.8%. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.

Analysts Set New Price Targets

ADI has been the subject of several recent analyst reports. Oppenheimer boosted their target price on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Raymond James Financial upgraded Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. The Goldman Sachs Group initiated coverage on Analog Devices in a research note on Thursday, July 10th. They issued a "buy" rating and a $285.00 price objective for the company. KGI Securities initiated coverage on Analog Devices in a research note on Friday, May 23rd. They issued a "buy" rating for the company. Finally, Evercore ISI boosted their price objective on Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and an average price target of $258.89.

Insider Buying and Selling at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares in the company, valued at $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Company 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.