Hunter Perkins Capital Management LLC Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Hunter Perkins Capital Management LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,162 shares of the semiconductor company’s stock after selling 7,644 shares during the period. Analog Devices comprises about 2.3% of Hunter Perkins Capital Management LLC’s portfolio, making the stock its 13th biggest position. Hunter Perkins Capital Management LLC’s holdings in Analog Devices were worth $9,915,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth approximately $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Analog Devices in the 1st quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at $30,000. Finally, Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices during the fourth quarter worth $30,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In other news, Director Ray Stata sold 3,125 shares of Analog Devices 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 completion of the sale, the director now directly owns 180,071 shares in the company, valued at $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the sale, the chief executive officer now owns 142,996 shares in the company, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock worth $3,143,556 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $237.30 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The firm has a market capitalization of $117.76 billion, a P/E ratio of 64.66, a PEG ratio of 2.17 and a beta of 1.00. The company’s fifty day moving average is $214.10 and its two-hundred day moving average is $211.61.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 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 firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The firm’s revenue was up 22.3% on a year-over-year basis. Analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.67%. Analog Devices’s dividend payout ratio (DPR) is 107.90%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Barclays raised their target price on Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Friday, May 23rd. Evercore ISI upped their price target on Analog Devices from $231.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, May 23rd. Morgan Stanley cut their price objective on shares of Analog Devices from $214.00 to $212.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Finally, Williams Trading set a $260.00 price objective on Analog Devices in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.75.

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.