Analog Devices, Inc. $ADI Shares Sold by Choreo LLC

Choreo LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,350 shares of the semiconductor company’s stock after selling 1,511 shares during the quarter. Choreo LLC’s holdings in Analog Devices were worth $4,844,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Analog Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock valued at $11,955,086,000 after buying an additional 761,861 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Analog Devices by 5.7% in the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock valued at $2,770,448,000 after acquiring an additional 633,425 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Analog Devices by 26.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock valued at $2,304,098,000 after acquiring an additional 2,407,460 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Analog Devices by 4.9% during the second quarter. American Century Companies Inc. now owns 4,464,722 shares of the semiconductor company’s stock worth $1,062,694,000 after acquiring an additional 206,882 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in Analog Devices by 0.3% during the first quarter. Raymond James Financial Inc. now owns 3,935,224 shares of the semiconductor company’s stock worth $793,616,000 after purchasing an additional 12,666 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of analyst reports. BNP Paribas Exane began coverage on Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective on the stock. Morgan Stanley raised their price target on Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a report on Wednesday. Benchmark reaffirmed a “buy” rating and set a $285.00 price objective on shares of Analog Devices in a report on Wednesday. Cantor Fitzgerald raised their target price on Analog Devices from $270.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Finally, Cfra restated a “buy” rating and set a $280.00 target price on shares of Analog Devices in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $281.87.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the completion of the transaction, the chief executive officer directly owned 163,640 shares in the company, valued at $38,447,218. The trade was a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Martin Cotter sold 12,500 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $246.25, for a total value of $3,078,125.00. Following the sale, the senior vice president owned 63,048 shares in the company, valued at approximately $15,525,570. This trade represents a 16.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 39,750 shares of company stock valued at $9,598,496. 0.33% of the stock is currently owned by company insiders.

Analog Devices Trading Up 2.3%

NASDAQ:ADI opened at $257.92 on Thursday. The company has a market capitalization of $126.89 billion, a PE ratio of 65.80, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. The company has a quick ratio of 1.79, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $260.74. The stock has a fifty day simple moving average of $239.06 and a 200-day simple moving average of $235.77.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the prior year, the company earned $1.67 EPS. The firm’s revenue was up 25.9% on a year-over-year basis. On average, equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is 101.02%.

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.