Analog Devices, Inc. (NASDAQ:ADI) Position Lowered by Angeles Wealth Management LLC

Angeles Wealth Management LLC reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 5.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,291 shares of the semiconductor company’s stock after selling 203 shares during the quarter. Angeles Wealth Management LLC’s holdings in Analog Devices were worth $664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Portland Global Advisors LLC raised its stake in Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock worth $853,000 after acquiring an additional 53 shares during the period. Continuum Advisory LLC raised its position in shares of Analog Devices by 14.8% during the 1st quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company’s stock worth $89,000 after purchasing an additional 57 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Analog Devices by 0.4% in the 1st quarter. Proficio Capital Partners LLC now owns 14,523 shares of the semiconductor company’s stock worth $2,929,000 after purchasing an additional 58 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Analog Devices by 1.1% in the 1st quarter. Alps Advisors Inc. now owns 5,688 shares of the semiconductor company’s stock worth $1,147,000 after purchasing an additional 60 shares during the last quarter. Finally, Keystone Financial Services boosted its position in Analog Devices by 1.6% during the 1st quarter. Keystone Financial Services now owns 3,791 shares of the semiconductor company’s stock valued at $765,000 after purchasing an additional 61 shares during the period. 86.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ADI shares. Citigroup reaffirmed a “buy” rating and issued a $290.00 target price (up from $260.00) on shares of Analog Devices in a research report on Monday, July 7th. Cowen reaffirmed a “buy” rating on shares of Analog Devices in a report on Friday, May 23rd. Seaport Res Ptn upgraded shares of Analog Devices from a “strong sell” rating to a “hold” rating in a research report on Monday, July 21st. Barclays upped their target price on shares of Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Friday, May 23rd. Finally, UBS Group cut their price target on Analog Devices from $285.00 to $280.00 and set a “buy” rating on the stock in a report on Monday, July 7th. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $258.89.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the transaction, the chief executive officer directly owned 142,996 shares of the company’s stock, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the sale, the director owned 167,571 shares of the company’s stock, valued at approximately $40,088,010.33. The trade was a 1.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,250 shares of company stock valued at $3,327,994. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $227.82 on Friday. The company’s fifty day moving average is $230.63 and its two-hundred day moving average is $215.26. The company has a market cap of $113.06 billion, a P/E ratio of 62.08, a price-to-earnings-growth ratio of 2.09 and a beta of 1.02. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.73. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. Analog Devices’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 earnings per share. Equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Wednesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 107.90%.

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.