Securian Asset Management Inc. Cuts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Securian Asset Management Inc. reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,560 shares of the semiconductor company's stock after selling 4,422 shares during the period. Securian Asset Management Inc.'s holdings in Analog Devices were worth $6,267,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ADI. Amarillo National Bank boosted its stake in Analog Devices by 3.7% during the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company's stock valued at $300,000 after purchasing an additional 54 shares in the last quarter. Keystone Financial Services grew its stake in Analog Devices by 1.8% during the 4th quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company's stock valued at $623,000 after acquiring an additional 55 shares in the last quarter. Ancora Advisors LLC increased its stake in Analog Devices by 2.1% in the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company's stock valued at $480,000 after buying an additional 57 shares during the period. Legacy Advisors LLC grew its holdings in shares of Analog Devices by 2.3% during the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company's stock valued at $465,000 after acquiring an additional 59 shares in the last quarter. Finally, MRA Advisory Group increased its stake in shares of Analog Devices by 2.5% in the third quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company's stock worth $444,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Buying and Selling

In other news, Director James Champy sold 1,228 shares of Analog Devices 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 completion of the transaction, the director now directly 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 is available through the SEC website. In related news, Director James Champy sold 1,228 shares of the company's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of 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 SEC, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares of the company's stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock valued at $4,874,613 over the last quarter. 0.31% of the stock is owned by company insiders.

Analog Devices Stock Performance

Shares of Analog Devices stock traded down $0.04 during trading hours on Friday, reaching $214.08. The company had a trading volume of 2,373,820 shares, compared to its average volume of 3,174,321. The business has a fifty day simple moving average of $197.55 and a 200 day simple moving average of $191.47. The firm has a market cap of $106.16 billion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 5.38 and a beta of 1.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $216.00.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm's revenue was down 22.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.75 earnings per share. On average, analysts anticipate that Analog Devices, Inc. will post 5.85 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.86. Analog Devices's dividend payout ratio is currently 65.83%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ADI shares. Morgan Stanley restated an "overweight" rating and set a $212.00 price target on shares of Analog Devices in a research note on Thursday, April 11th. Jefferies Financial Group initiated coverage on Analog Devices in a research report on Monday, May 13th. They set a "buy" rating and a $250.00 price objective for the company. Cantor Fitzgerald increased their price target on shares of Analog Devices from $205.00 to $240.00 and gave the company a "neutral" rating in a report on Wednesday. KeyCorp boosted their price target on Analog Devices from $220.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, February 22nd. Finally, Oppenheimer raised their price objective on shares of Analog Devices from $215.00 to $245.00 and gave the stock an "outperform" rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $212.63.

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.