Cumberland Partners Ltd Sells 1,280 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Cumberland Partners Ltd cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 81,560 shares of the semiconductor company’s stock after selling 1,280 shares during the period. Analog Devices makes up approximately 1.4% of Cumberland Partners Ltd’s holdings, making the stock its 22nd largest holding. Cumberland Partners Ltd’s holdings in Analog Devices were worth $16,195,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Pinnacle Bancorp Inc. lifted its holdings in shares of Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares during the period. Silver Oak Securities Incorporated bought a new position in shares of Analog Devices during the 3rd quarter worth about $29,000. Cetera Trust Company N.A bought a new position in shares of Analog Devices during the 4th quarter worth about $29,000. Northwest Capital Management Inc lifted its holdings in shares of Analog Devices by 519.2% during the 4th quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 135 shares during the period. Finally, CGC Financial Services LLC bought a new position in shares of Analog Devices during the 4th quarter worth about $37,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Up 1.9 %

Analog Devices stock traded up $3.62 during midday trading on Tuesday, hitting $189.93. 4,175,059 shares of the stock were exchanged, compared to its average volume of 3,358,335. The company has a fifty day simple moving average of $192.77 and a two-hundred day simple moving average of $186.93. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20. The stock has a market capitalization of $94.19 billion, a PE ratio of 33.98, a P/E/G ratio of 4.60 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 (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm earned $2.75 EPS. Analog Devices’s quarterly revenue was down 22.7% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.94%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is presently 65.83%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $212.00 price target on shares of Analog Devices in a report on Thursday, April 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $205.00 price target on shares of Analog Devices in a report on Monday, March 4th. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a report on Thursday, January 18th. KeyCorp raised their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Finally, Oppenheimer restated an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $208.17.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, February 1st. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is currently owned by corporate insiders.

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.