Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by US Asset Management LLC

US Asset Management LLC lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,828 shares of the semiconductor company’s stock after selling 66 shares during the period. Analog Devices comprises 1.0% of US Asset Management LLC’s holdings, making the stock its 22nd biggest holding. US Asset Management LLC’s holdings in Analog Devices were worth $1,153,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake in shares of Analog Devices by 8.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after purchasing an additional 1,197,215 shares during the last quarter. Norges Bank acquired a new position in shares of Analog Devices in the 4th quarter worth approximately $1,225,227,000. Capital International Investors grew its stake in shares of Analog Devices by 5.8% in the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after purchasing an additional 246,799 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Analog Devices by 9.3% in the 4th quarter. First Eagle Investment Management LLC now owns 3,836,884 shares of the semiconductor company’s stock worth $761,852,000 after purchasing an additional 327,542 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of Analog Devices by 11.7% in the fourth quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock worth $753,379,000 after acquiring an additional 397,753 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,121 shares of company stock valued at $10,875,654. 0.31% of the stock is owned by company insiders.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded down $5.87 during trading on Thursday, reaching $229.51. The stock had a trading volume of 4,562,256 shares, compared to its average volume of 3,339,734. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $241.88. The firm has a market capitalization of $113.89 billion, a price-to-earnings ratio of 53.62, a P/E/G ratio of 3.97 and a beta of 1.12. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $215.36 and a two-hundred day simple moving average of $200.70.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the firm posted $2.83 earnings per share. Analog Devices’s revenue was down 33.8% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Barclays raised their price target on shares of Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, May 20th. Robert W. Baird raised their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. TD Cowen raised their price target on shares of Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $243.23.

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.