Tower View Wealth Management LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 14.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,388 shares of the semiconductor company's stock after selling 1,568 shares during the period. Tower View Wealth Management LLC's holdings in Analog Devices were worth $1,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. Weaver Capital Management LLC raised its position in Analog Devices by 2.9% in the 1st quarter. Weaver Capital Management LLC now owns 4,109 shares of the semiconductor company's stock valued at $829,000 after purchasing an additional 117 shares in the last quarter. Norway Savings Bank increased its holdings in shares of Analog Devices by 0.6% in the 1st quarter. Norway Savings Bank now owns 13,221 shares of the semiconductor company's stock valued at $2,666,000 after acquiring an additional 83 shares during the last quarter. GAM Holding AG increased its holdings in shares of Analog Devices by 16.4% in the 1st quarter. GAM Holding AG now owns 14,261 shares of the semiconductor company's stock valued at $2,876,000 after acquiring an additional 2,007 shares during the last quarter. Canoe Financial LP increased its holdings in shares of Analog Devices by 9.5% in the 1st quarter. Canoe Financial LP now owns 656,496 shares of the semiconductor company's stock valued at $132,396,000 after acquiring an additional 57,205 shares during the last quarter. Finally, Dupont Capital Management Corp increased its holdings in shares of Analog Devices by 6.6% in the 1st quarter. Dupont Capital Management Corp now owns 49,759 shares of the semiconductor company's stock valued at $10,035,000 after acquiring an additional 3,063 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on ADI shares. Stifel Nicolaus increased their price objective on Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. UBS Group dropped their price objective on Analog Devices from $295.00 to $285.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Barclays increased their price objective on Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Keefe, Bruyette & Woods upgraded Analog Devices to an "outperform" rating in a research note on Wednesday. Finally, Cowen restated a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.75.
Get Our Latest Research Report on ADI
Insiders Place Their Bets
In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the transaction, the director now directly owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,934 shares of company stock worth $5,807,196. 0.33% of the stock is owned by corporate insiders.
Analog Devices Stock Performance
Shares of ADI stock traded down $1.30 during midday trading on Friday, hitting $228.35. The company had a trading volume of 5,316,062 shares, compared to its average volume of 3,565,501. The company's 50 day simple moving average is $209.55 and its 200 day simple moving average is $211.09. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The stock has a market cap of $113.32 billion, a price-to-earnings ratio of 62.22, a PEG ratio of 2.11 and a beta of 1.00. 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 (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 for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the business posted $1.40 EPS. The company's revenue was up 22.3% on a year-over-year basis. Research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.
Analog Devices Announces Dividend
The firm also recently disclosed 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 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.
About Analog Devices
(
Free Report)
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.
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