AdvisorNet Financial Inc Trims Stake in Analog Devices, Inc. (NASDAQ:ADI)

AdvisorNet Financial Inc decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 7.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 942 shares of the semiconductor company’s stock after selling 80 shares during the quarter. AdvisorNet Financial Inc’s holdings in Analog Devices were worth $215,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. USA Financial Formulas grew its position in shares of Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Cetera Trust Company N.A purchased a new position in Analog Devices in the fourth quarter valued at $29,000. Private Wealth Management Group LLC acquired a new stake in Analog Devices in the fourth quarter valued at $29,000. Riverview Trust Co acquired a new stake in Analog Devices in the first quarter valued at $30,000. Finally, Northwest Capital Management Inc increased its position in shares of Analog Devices by 519.2% during the fourth quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. UBS Group lifted their price objective on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. KeyCorp upped their price target on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, July 16th. Citigroup increased 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. Finally, Susquehanna increased their price objective on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday, May 23rd. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,642 shares of company stock worth $10,791,543. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $7.56 during midday trading on Thursday, reaching $222.88. 2,549,625 shares of the company traded hands, compared to its average volume of 3,351,475. The stock has a 50-day moving average price of $227.79 and a 200 day moving average price of $209.90. The company has a market cap of $110.60 billion, a price-to-earnings ratio of 50.31, a PEG ratio of 3.69 and a beta of 1.08. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13.

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

Analog Devices Dividend Announcement

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. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.65%. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

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.