Nicolet Advisory Services LLC Reduces Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Nicolet Advisory Services LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 24.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,194 shares of the semiconductor company’s stock after selling 1,330 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Analog Devices were worth $846,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its position in Analog Devices by 284.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company’s stock worth $6,262,000 after purchasing an additional 22,973 shares during the last quarter. Broderick Brian C grew its stake in shares of Analog Devices by 2.6% in the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock valued at $16,831,000 after purchasing an additional 2,017 shares during the last quarter. Freestone Grove Partners LP acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $10,212,000. Sowell Financial Services LLC purchased a new stake in shares of Analog Devices during the first quarter worth approximately $296,000. Finally, Keybank National Association OH lifted its holdings in shares of Analog Devices by 85.8% during the first quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company’s stock worth $5,461,000 after purchasing an additional 12,505 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the sale, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analog Devices Price Performance

ADI stock opened at $221.71 on Friday. The stock’s 50 day moving average price is $231.54 and its 200 day moving average price is $215.66. The firm has a market cap of $110.02 billion, a P/E ratio of 60.41, a PEG ratio of 2.07 and a beta of 1.05. 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 1 year low of $158.65 and a 1 year high of $247.73.

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, topping analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is currently 107.90%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ADI shares. Cantor Fitzgerald raised shares of Analog Devices from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $250.00 to $270.00 in a research note on Wednesday, June 18th. Noble Financial upgraded shares of Analog Devices to an “outperform” rating in a research note on Wednesday, June 18th. Wells Fargo & Company set a $235.00 price target on shares of Analog Devices and gave the stock an “equal weight” rating in a report on Monday, June 16th. TD Cowen lifted their price objective on Analog Devices from $200.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods raised Analog Devices to an “outperform” rating in a research note on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $258.89.

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.