Dearborn Partners LLC Decreases Position in Analog Devices, Inc. (NASDAQ:ADI)

Dearborn Partners LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 30.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,510 shares of the semiconductor company’s stock after selling 2,890 shares during the period. Dearborn Partners LLC’s holdings in Analog Devices were worth $1,313,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of Analog Devices by 284.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company’s stock valued at $6,262,000 after purchasing an additional 22,973 shares during the last quarter. Broderick Brian C boosted its position in shares of Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock worth $16,831,000 after purchasing an additional 2,017 shares during the period. Freestone Grove Partners LP bought a new position in shares of Analog Devices in the fourth quarter worth approximately $10,212,000. Sowell Financial Services LLC bought a new position in shares of Analog Devices in the first quarter worth approximately $296,000. Finally, Keybank National Association OH boosted its position in shares of Analog Devices by 85.8% in the first quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company’s stock worth $5,461,000 after purchasing an additional 12,505 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the transaction, the director directly owned 167,571 shares of the company’s stock, valued at $40,088,010.33. The trade was a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the transaction, the chief executive officer directly owned 142,996 shares of the company’s stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,250 shares of company stock valued at $3,327,994. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $230.75 on Wednesday. The firm has a market capitalization of $114.51 billion, a P/E ratio of 62.87, a PEG ratio of 2.13 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $230.88 and a 200 day moving average price of $215.42. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.73.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the firm posted $1.40 EPS. Analog Devices’s revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Wednesday, June 4th. Analog Devices’s dividend payout ratio is presently 107.90%.

Wall Street Analyst Weigh In

ADI has been the subject of a number of research reports. Keefe, Bruyette & Woods upgraded shares of Analog Devices to an “outperform” rating in a research report on Wednesday, June 18th. Cantor Fitzgerald raised shares of Analog Devices from a “neutral” rating to an “overweight” rating and upped their price target for the company from $250.00 to $270.00 in a research note on Wednesday, June 18th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Friday, May 23rd. Citigroup reissued a “buy” rating and issued a $290.00 target price (up previously from $260.00) on shares of Analog Devices in a research note on Monday, July 7th. Finally, Raymond James Financial raised shares of Analog Devices from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $258.89.

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.