Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 30.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,574 shares of the semiconductor company’s stock after selling 1,980 shares during the quarter. SageView Advisory Group LLC’s holdings in Analog Devices were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Analog Devices by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after buying an additional 21,522 shares during the period. Point72 Italy S.r.l. purchased a new position in shares of Analog Devices during the 4th quarter worth about $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Analog Devices in the fourth quarter worth approximately $850,000. CTC Alternative Strategies Ltd. acquired a new position in Analog Devices during the fourth quarter worth approximately $1,152,000. Finally, Capital International Investors raised its stake in Analog Devices by 5.8% during the fourth 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 period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ADI shares. Morgan Stanley boosted their price objective on shares of Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Robert W. Baird upped their price target on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. The Goldman Sachs Group raised their price objective on Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Truist Financial lifted their price objective on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, TD Cowen lifted their price objective on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research note 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 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 $245.50.

Insider Activity

In related news, EVP Gregory M. Bryant sold 17,612 shares of the company’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 completion of the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $10,057,745.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 46,642 shares of company stock worth $10,481,343. 0.31% of the stock is currently owned by insiders.

Analog Devices Stock Down 2.8 %

Shares of ADI traded down $6.63 during trading on Friday, reaching $232.36. The company’s stock had a trading volume of 953,756 shares, compared to its average volume of 3,253,599. The company has a fifty day moving average of $229.97 and a two-hundred day moving average of $206.16. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The company has a market cap of $115.30 billion, a price-to-earnings ratio of 55.46, a P/E/G ratio of 3.97 and a beta of 1.08. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19.

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, 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 prior year, the company posted $2.83 EPS. Analog Devices’s quarterly revenue was down 33.8% on a year-over-year basis. On average, sell-side analysts predict that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were issued a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.58%. Analog Devices’s dividend payout ratio (DPR) is 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.