Bahl & Gaynor Inc. Sells 1,479 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Bahl & Gaynor Inc. reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 282,478 shares of the semiconductor company’s stock after selling 1,479 shares during the period. Bahl & Gaynor Inc. owned about 0.06% of Analog Devices worth $56,089,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CTC Alternative Strategies Ltd. purchased a new stake in shares of Analog Devices during the fourth quarter valued at approximately $1,152,000. Sequoia Financial Advisors LLC boosted its stake in shares of Analog Devices by 107.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after purchasing an additional 6,564 shares during the period. Prime Capital Investment Advisors LLC boosted its stake in shares of Analog Devices by 37.5% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after purchasing an additional 2,215 shares during the period. Daiwa Securities Group Inc. lifted its stake in Analog Devices by 4.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after acquiring an additional 4,516 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Analog Devices by 31.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock worth $74,187,000 after acquiring an additional 89,504 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,707 shares of company stock worth $4,825,113. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on ADI shares. KeyCorp raised their price target on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Analog Devices in a research note on Thursday, February 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 price target on shares of Analog Devices in a research note on Thursday, April 11th. The Goldman Sachs Group raised their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a research report on Thursday, January 18th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $201.97 on Friday. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $204.20. The business has a fifty day moving average price of $193.45 and a 200-day moving average price of $187.28. The company has a market capitalization of $100.16 billion, a PE ratio of 36.13, a PEG ratio of 4.97 and a beta of 1.17. 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 (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned $2.75 EPS. Analog Devices’s revenue for the quarter was down 22.7% on a year-over-year basis. As a group, equities analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.82%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is presently 65.83%.

Analog Devices 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.