InterOcean Capital Group LLC Sells 217 Shares of Analog Devices, Inc. (NASDAQ:ADI)

InterOcean Capital Group LLC decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 7.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,850 shares of the semiconductor company’s stock after selling 217 shares during the period. InterOcean Capital Group LLC’s holdings in Analog Devices were worth $564,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of ADI. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Analog Devices by 292.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,000 shares of the semiconductor company’s stock valued at $21,757,000 after buying an additional 81,972 shares in the last quarter. Puzo Michael J grew its holdings in Analog Devices by 6.1% in the 1st quarter. Puzo Michael J now owns 58,341 shares of the semiconductor company’s stock valued at $11,539,000 after buying an additional 3,340 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Analog Devices by 25.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 501,708 shares of the semiconductor company’s stock valued at $99,295,000 after acquiring an additional 102,801 shares during the period. Lake Street Advisors Group LLC lifted its position in shares of Analog Devices by 39.9% during the 1st quarter. Lake Street Advisors Group LLC now owns 5,851 shares of the semiconductor company’s stock valued at $1,157,000 after acquiring an additional 1,669 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Analog Devices by 87.7% during the 1st quarter. Bessemer Group Inc. now owns 33,668 shares of the semiconductor company’s stock worth $6,659,000 after buying an additional 15,735 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 1.6 %

Analog Devices stock traded down $3.70 during mid-day trading on Thursday, reaching $220.92. The stock had a trading volume of 5,111,394 shares, compared to its average volume of 3,291,138. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The stock’s 50-day simple moving average is $231.63 and its 200-day simple moving average is $207.41. The firm has a market capitalization of $109.62 billion, a PE ratio of 52.47, a price-to-earnings-growth ratio of 3.89 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 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 firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the firm posted $2.83 earnings per share. The company’s revenue for the quarter was down 33.8% compared to the same quarter last year. On average, sell-side analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Dividend Announcement

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

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was 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 directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Michael Sondel sold 4,830 shares of Analog Devices stock in a transaction on Friday, May 24th. The stock was sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the transaction, the chief accounting officer now directly owns 10,547 shares in the company, valued at $2,495,209.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices 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 completion of the transaction, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,642 shares of company stock worth $10,481,343. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ADI. Jefferies Financial Group began coverage on Analog Devices in a research report on Monday, May 13th. They issued a “buy” rating and a $250.00 target price for the company. Morgan Stanley increased their target price on Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Robert W. Baird increased their target price on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, May 23rd. Finally, Stifel Nicolaus increased their price target on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $245.50.

Analog Devices Company 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.