Twin Capital Management Inc. Sells 53 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Twin Capital Management Inc. lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,756 shares of the semiconductor company’s stock after selling 53 shares during the quarter. Twin Capital Management Inc.’s holdings in Analog Devices were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in 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 acquiring an additional 1,197,215 shares during the period. Norges Bank bought a new position in Analog Devices in the 4th quarter worth $1,225,227,000. Capital International Investors raised its holdings in 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 acquiring an additional 246,799 shares during the period. Finally, First Eagle Investment Management LLC raised its holdings in Analog Devices by 0.3% in the 1st quarter. First Eagle Investment Management LLC now owns 3,847,087 shares of the semiconductor company’s stock worth $760,915,000 after acquiring an additional 10,203 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ ADI traded down $5.70 during trading on Wednesday, reaching $224.62. The company had a trading volume of 4,588,307 shares, compared to its average volume of 3,278,211. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The stock has a market cap of $111.46 billion, a PE ratio of 52.48, a PEG ratio of 4.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The business’s 50 day moving average price is $231.63 and its 200-day moving average price is $207.41.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share 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 company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the firm posted $2.83 earnings per share. The company’s revenue was down 33.8% on a year-over-year basis. Analysts expect that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the business’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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the company’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 value of $4,120,151.28. Following the completion of the sale, the executive vice president now 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, 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 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 approximately $10,057,745.34. The disclosure for this sale can be found here. Insiders sold a total of 46,642 shares of company stock valued at $10,481,343 over the last ninety days. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ADI shares. Susquehanna lifted their target price on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. Citigroup raised their price target on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Sanford C. Bernstein raised their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Bank of America raised their price target on shares of Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a research 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 research report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus 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.