Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,818 shares of the semiconductor company’s stock after selling 331 shares during the quarter. Park Avenue Securities LLC’s holdings in Analog Devices were worth $2,585,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ADI. Orion Capital Management LLC purchased a new position in shares of Analog Devices during the fourth quarter worth approximately $27,000. Menard Financial Group LLC acquired a new stake in Analog Devices during the 4th quarter worth $27,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the 4th quarter worth $30,000. Hopwood Financial Services Inc. purchased a new position in Analog Devices during the 4th quarter worth $30,000. Finally, Cassady Schiller Wealth Management LLC raised its holdings in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 55 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the sale, the director now directly owns 180,071 shares of the company’s stock, valued at $35,265,104.64. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company reissued a “positive” rating on shares of Analog Devices in a report on Friday, May 23rd. Morgan Stanley lowered their target price on Analog Devices from $214.00 to $212.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. TD Cowen boosted their target price on Analog Devices from $200.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Seaport Res Ptn upgraded Analog Devices to a “strong sell” rating in a research note on Wednesday, April 30th. Finally, UBS Group lowered their price objective on shares of Analog Devices from $295.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.63.

Analog Devices Stock Up 2.4%

Shares of NASDAQ ADI opened at $227.66 on Tuesday. The stock has a market capitalization of $112.98 billion, a price-to-earnings ratio of 72.50, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The firm has a 50-day moving average price of $200.14 and a 200 day moving average price of $210.38. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the company posted $1.40 earnings per share. Equities research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.74%. Analog Devices’s dividend payout ratio is presently 107.90%.

About Analog Devices

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.