Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 13.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,118 shares of the semiconductor company's stock after selling 5,205 shares during the period. Cullinan Associates Inc.'s holdings in Analog Devices were worth $6,576,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ADI. Halpern Financial Inc. grew its stake in Analog Devices by 331.4% during the third quarter. Halpern Financial Inc. now owns 151 shares of the semiconductor company's stock worth $26,000 after buying an additional 116 shares during the period. Silver Oak Securities Incorporated purchased a new stake in Analog Devices during the 3rd quarter worth $29,000. Fortis Capital Advisors LLC purchased a new stake in Analog Devices during the 1st quarter worth $31,000. West Tower Group LLC purchased a new position in Analog Devices in the second quarter valued at about $32,000. Finally, Quarry LP lifted its stake in shares of Analog Devices by 267.4% during the first quarter. Quarry LP now owns 169 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 123 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 16th. KeyCorp raised their target price on Analog Devices from $220.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, February 22nd. Wolfe Research upgraded Analog Devices from a "peer perform" rating to an "outperform" rating and set a $225.00 price objective for the company in a research note on Thursday, January 18th. Morgan Stanley reaffirmed an "overweight" rating and issued a $212.00 target price (down from $219.00) on shares of Analog Devices in a research report on Thursday, February 22nd. Finally, Oppenheimer reissued an "outperform" rating and set a $215.00 price target on shares of Analog Devices in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $206.26.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now owns 5,713 shares of the company's stock, valued at $1,097,524.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director James Champy sold 1,228 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares of the company's stock, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock valued at $4,825,113 in the last quarter. Insiders own 0.31% of the company's stock.

Analog Devices Stock Performance

ADI stock traded up $2.81 during trading on Friday, reaching $194.76. 2,087,371 shares of the company's stock were exchanged, compared to its average volume of 3,355,463. The firm has a market cap of $96.58 billion, a PE ratio of 34.34, a P/E/G ratio of 4.90 and a beta of 1.17. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $202.77. The company's fifty day moving average price is $192.83 and its 200-day moving average price is $185.18.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business's revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.75 EPS. On average, research analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This is a positive change from Analog Devices's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.89%. Analog Devices's dividend payout ratio (DPR) is 65.83%.

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.

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