Portfolio Design Labs LLC Sells 20,590 Shares of Analog Devices, Inc. $ADI

Portfolio Design Labs LLC trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 94.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,154 shares of the semiconductor company’s stock after selling 20,590 shares during the quarter. Portfolio Design Labs LLC’s holdings in Analog Devices were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft lifted its position in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock worth $270,000 after purchasing an additional 43 shares in the last quarter. Bennett Associates Wealth Management increased its stake in shares of Analog Devices by 2.9% in the 2nd quarter. Bennett Associates Wealth Management now owns 1,624 shares of the semiconductor company’s stock valued at $387,000 after buying an additional 46 shares during the period. Solstein Capital LLC lifted its stake in shares of Analog Devices by 2.0% during the second quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock valued at $549,000 after acquiring an additional 46 shares during the period. Keystone Financial Services increased its position in Analog Devices by 1.2% in the second quarter. Keystone Financial Services now owns 3,837 shares of the semiconductor company’s stock worth $913,000 after purchasing an additional 46 shares during the period. Finally, EFG Asset Management North America Corp. lifted its position in Analog Devices by 0.3% during the 1st quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company’s stock valued at $2,866,000 after purchasing an additional 47 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ADI shares. Benchmark restated a “buy” rating and issued a $285.00 price objective on shares of Analog Devices in a report on Wednesday, November 26th. Weiss Ratings raised Analog Devices from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Zacks Research cut Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Wells Fargo & Company increased their target price on Analog Devices from $250.00 to $265.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Finally, Stifel Nicolaus set a $280.00 target price on Analog Devices in a report on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $281.87.

Insider Transactions at Analog Devices

In other news, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the transaction, the director directly owned 5,118 shares of the company’s stock, valued at $1,242,343.32. This trade represents a 16.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Martin Cotter sold 12,500 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the completion of the sale, the senior vice president directly owned 63,048 shares in the company, valued at approximately $15,525,570. This represents a 16.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 39,750 shares of company stock valued at $9,598,496. 0.33% of the stock is currently owned by company insiders.

Analog Devices Price Performance

NASDAQ ADI opened at $272.97 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $274.13. The business has a 50 day simple moving average of $240.55 and a 200 day simple moving average of $236.95. The stock has a market cap of $133.66 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 1.48 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the prior year, the company earned $1.67 earnings per share. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. Analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, December 8th. Analog Devices’s payout ratio is 86.84%.

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.