Wendell David Associates Inc. Sells 300 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wendell David Associates Inc. reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,846 shares of the semiconductor company’s stock after selling 300 shares during the quarter. Wendell David Associates Inc.’s holdings in Analog Devices were worth $2,792,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock worth $10,432,961,000 after purchasing an additional 413,084 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Analog Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company’s stock worth $2,248,971,000 after buying an additional 247,737 shares in the last quarter. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter valued at $1,755,958,000. FMR LLC grew its stake in shares of Analog Devices by 0.8% in the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company’s stock worth $1,582,831,000 after acquiring an additional 61,390 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Analog Devices by 8.4% during the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company’s stock valued at $1,173,026,000 after buying an additional 427,328 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADI. Stifel Nicolaus raised their target price on Analog Devices from $225.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. Seaport Res Ptn raised shares of Analog Devices to a “strong sell” rating in a research note on Wednesday, April 30th. Williams Trading set a $260.00 price target on shares of Analog Devices in a research note on Friday, May 23rd. Barclays boosted their target price on Analog Devices from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Friday, May 23rd. Finally, Citigroup boosted their target price on Analog Devices from $235.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $250.50.

Insider Activity 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 shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now owns 186,321 shares in the company, valued at $33,576,907.41. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,934 shares of company stock valued at $6,643,956 over the last quarter. 0.33% of the stock is owned by insiders.

Analog Devices Stock Up 3.0%

Shares of NASDAQ ADI opened at $231.80 on Tuesday. The stock has a market cap of $115.03 billion, a P/E ratio of 73.82, a PEG ratio of 2.85 and a beta of 1.00. The business’s fifty day simple moving average is $206.26 and its 200-day simple moving average is $210.80. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

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

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.99 per share. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.71%. Analog Devices’s payout ratio is currently 107.90%.

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

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.