Baker Ellis Asset Management LLC Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Baker Ellis Asset Management LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,425 shares of the semiconductor company’s stock after selling 123 shares during the period. Baker Ellis Asset Management LLC’s holdings in Analog Devices were worth $5,127,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ADI. Brighton Jones LLC raised its stake in shares of Analog Devices by 39.5% in the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after acquiring an additional 529 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $61,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Analog Devices during the 4th quarter valued at about $69,000. Savant Capital LLC lifted its position in Analog Devices by 12.0% during the 4th quarter. Savant Capital LLC now owns 9,316 shares of the semiconductor company’s stock worth $1,979,000 after acquiring an additional 997 shares in the last quarter. Finally, Soltis Investment Advisors LLC boosted its holdings in Analog Devices by 3.9% in the 4th quarter. Soltis Investment Advisors LLC now owns 5,753 shares of the semiconductor company’s stock worth $1,222,000 after acquiring an additional 215 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ADI. Citigroup lifted their price target on shares of Analog Devices from $235.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Cowen reaffirmed a “buy” rating on shares of Analog Devices in a research report on Friday, May 23rd. UBS Group reduced their price target on Analog Devices from $295.00 to $285.00 and set a “buy” rating for the company in a report on Friday, May 23rd. KGI Securities began coverage on Analog Devices in a report on Friday, May 23rd. They set a “buy” rating on the stock. Finally, Wells Fargo & Company reiterated a “positive” rating on shares of Analog Devices in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $248.63.

Analog Devices Stock Performance

Shares of ADI opened at $233.34 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The firm has a fifty day moving average of $201.19 and a 200-day moving average of $210.54. The company has a market cap of $115.79 billion, a price-to-earnings ratio of 74.31, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00.

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

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices’s payout ratio is currently 107.90%.

Analog Devices declared that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,934 shares of company stock worth $6,643,956. 0.33% of the stock is owned by company insiders.

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.