Donaldson Capital Management LLC Trims Stake in Analog Devices, Inc. (NASDAQ:ADI)

Donaldson Capital Management LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 19.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,205 shares of the semiconductor company’s stock after selling 297 shares during the quarter. Donaldson Capital Management LLC’s holdings in Analog Devices were worth $243,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Analog Devices during the fourth quarter worth approximately $1,755,958,000. Raymond James Financial Inc. purchased a new position in Analog Devices during the 4th quarter worth $833,386,000. Proficio Capital Partners LLC increased its stake in Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after purchasing an additional 3,059,349 shares during the period. GAMMA Investing LLC increased its stake in Analog Devices by 25,460.1% in the first quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company’s stock valued at $446,037,000 after purchasing an additional 2,203,062 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its holdings in shares of Analog Devices by 301.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company’s stock valued at $335,933,000 after buying an additional 1,186,981 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

ADI has been the topic of a number of research reports. Cowen reissued a “buy” rating on shares of Analog Devices in a report on Friday, May 23rd. Oppenheimer lifted their target price on Analog Devices from $225.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Morgan Stanley cut their price target on Analog Devices from $214.00 to $212.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Barclays increased their price target on Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Finally, TD Cowen boosted their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.63.

Analog Devices Stock Down 0.3%

Shares of Analog Devices stock opened at $232.54 on Thursday. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a fifty day moving average price of $202.55 and a 200 day moving average price of $210.69. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The stock has a market cap of $115.40 billion, a price-to-earnings ratio of 74.06, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00.

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

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.99 dividend. 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 dividend payout ratio is currently 107.90%.

Analog Devices announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the business’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 value of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,934 shares of company stock worth $6,643,956 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

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.