L. Roy Papp & Associates LLP Trims Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

L. Roy Papp & Associates LLP decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,381 shares of the semiconductor company’s stock after selling 590 shares during the period. Analog Devices makes up 1.0% of L. Roy Papp & Associates LLP’s investment portfolio, making the stock its 26th largest holding. L. Roy Papp & Associates LLP’s holdings in Analog Devices were worth $8,304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ADI. Vanguard Group Inc. lifted its position in Analog Devices by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of 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 purchasing an additional 1,197,215 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares in the last quarter. Norges Bank purchased a new position in Analog Devices in the fourth quarter worth about $1,225,227,000. Finally, Capital International Investors lifted its stake in shares of Analog Devices by 14.3% in the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after buying an additional 644,945 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity at Analog Devices

In other news, Director James Champy sold 4,200 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total value of $980,910.00. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,487,947.05. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Analog Devices news, Director James Champy sold 4,200 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,487,947.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,570,541.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,812 shares of company stock worth $9,648,861. Insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

Shares of ADI traded up $6.48 during mid-day trading on Friday, hitting $228.39. 3,185,146 shares of the stock were exchanged, compared to its average volume of 3,378,456. 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 company has a market cap of $113.33 billion, a PE ratio of 51.85, a price-to-earnings-growth 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 firm has a 50-day moving average of $226.38 and a two-hundred day moving average of $211.06.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business’s revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.49 EPS. On average, equities analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.61%. Analog Devices’s dividend payout ratio is presently 85.98%.

Analyst Ratings Changes

ADI has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday. Morgan Stanley lifted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird boosted their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Bank of America cut their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday. Finally, KeyCorp increased their price target on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $245.64.

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.