Analog Devices, Inc. (NASDAQ:ADI) is Hemenway Trust Co LLC’s 10th Largest Position

Hemenway Trust Co LLC decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 199,618 shares of the semiconductor company’s stock after selling 1,149 shares during the quarter. Analog Devices makes up 3.4% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 10th largest position. Hemenway Trust Co LLC’s holdings in Analog Devices were worth $39,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of 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 valued at $98,531,000 after buying an additional 21,522 shares during the period. Point72 Italy S.r.l. purchased a new stake in shares of Analog Devices in the 4th quarter worth about $6,367,000. Grayhawk Investment Strategies Inc. bought a new stake in shares of Analog Devices during the 4th quarter valued at about $850,000. CTC Alternative Strategies Ltd. purchased a new position in shares of Analog Devices during the fourth quarter valued at about $1,152,000. Finally, Capital International Investors lifted its holdings in Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after buying an additional 246,799 shares during the period. 86.81% of the stock is owned by institutional investors.

Analog Devices Price Performance

Shares of Analog Devices stock traded down $4.59 during mid-day trading on Thursday, reaching $233.74. 3,103,682 shares of the stock traded hands, compared to its average volume of 3,278,600. The business has a 50-day moving average of $226.41 and a 200 day moving average of $204.77. The stock has a market capitalization of $115.99 billion, a PE ratio of 54.61, a PEG ratio of 3.94 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, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $241.88.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.83 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 6.24 EPS for the current 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 paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio is presently 85.98%.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 17,612 shares of the business’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 transaction, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Analog Devices news, Director James Champy sold 4,200 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,487,947.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 69,241 shares in the company, valued at $16,198,239.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,642 shares of company stock valued at $10,481,343. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ADI shares. Barclays increased their price objective on Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, May 20th. The Goldman Sachs Group boosted their price objective on shares of Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. KeyCorp raised their target price on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Bank of America upped their price target on Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Citigroup raised their price target on Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.23.

Analog Devices 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.