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

Ossiam lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 75.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,843 shares of the semiconductor company’s stock after selling 82,126 shares during the quarter. Ossiam’s holdings in Analog Devices were worth $5,309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Pinnacle Bancorp Inc. raised its stake in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 65 shares in the last quarter. USA Financial Formulas raised its position in shares of Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares in the last quarter. Cetera Trust Company N.A bought a new position in Analog Devices during the fourth quarter worth $29,000. Private Wealth Management Group LLC acquired a new position in Analog Devices in the fourth quarter worth $29,000. Finally, Riverview Trust Co bought a new stake in Analog Devices during the first quarter valued at $30,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In related news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction that occurred 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 $16,198,239.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Champy sold 4,200 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,487,947.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,642 shares of company stock worth $10,481,343. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

NASDAQ:ADI traded down $3.70 during midday trading on Thursday, hitting $220.92. 5,111,394 shares of the stock were exchanged, compared to its average volume of 3,291,138. The company has a market capitalization of $109.62 billion, a price-to-earnings ratio of 51.62, a P/E/G ratio of 3.89 and a beta of 1.08. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The business has a 50-day moving average price of $231.77 and a two-hundred day moving average price of $207.51.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same period last year, the firm earned $2.83 EPS. Sell-side analysts predict that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is 85.98%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ADI. Morgan Stanley raised their price target on shares of Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Bank of America raised their target price 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. The Goldman Sachs Group upped their target price on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Evercore ISI began coverage on Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target on the stock. Finally, Citigroup boosted their price objective on Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $245.50.

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.