Rehmann Capital Advisory Group Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Rehmann Capital Advisory Group trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,740 shares of the semiconductor company’s stock after selling 77 shares during the period. Rehmann Capital Advisory Group’s holdings in Analog Devices were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Analog Devices by 7.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 154,165 shares of the semiconductor company’s stock worth $30,492,000 after buying an additional 10,432 shares during the period. Central Pacific Bank Trust Division acquired a new position in Analog Devices during the first quarter valued at $248,000. Whittier Trust Co. of Nevada Inc. lifted its position in Analog Devices by 5.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,208 shares of the semiconductor company’s stock valued at $635,000 after purchasing an additional 168 shares during the period. First Command Advisory Services Inc. lifted its position in Analog Devices by 6,055.6% during the first quarter. First Command Advisory Services Inc. now owns 1,662 shares of the semiconductor company’s stock valued at $329,000 after purchasing an additional 1,635 shares during the period. Finally, Financial Counselors Inc. increased its holdings in Analog Devices by 8.2% in the first quarter. Financial Counselors Inc. now owns 3,773 shares of the semiconductor company’s stock valued at $746,000 after buying an additional 287 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,057,745.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the completion of the transaction, the chief accounting officer now owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. Insiders sold 46,642 shares of company stock worth $10,481,343 in the last ninety days. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ADI has been the subject of a number of research reports. KeyCorp boosted their target price on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Bank of America upped their price objective on shares of Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, May 23rd. Barclays increased their price target on shares of Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. Finally, Evercore ISI started coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.23.

Analog Devices Stock Performance

Shares of ADI traded up $0.22 during mid-day trading on Thursday, hitting $238.55. The stock had a trading volume of 115,164 shares, compared to its average volume of 3,255,981. The firm has a market cap of $118.37 billion, a P/E ratio of 55.77, a PEG ratio of 3.94 and a beta of 1.08. The business has a fifty day moving average price of $225.67 and a 200-day moving average price of $204.57. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $241.88.

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

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is currently 85.98%.

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.