Analog Devices, Inc. (NASDAQ:ADI) Position Reduced by Conning Inc.

Conning Inc. reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 8.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 156,768 shares of the semiconductor company’s stock after selling 14,877 shares during the quarter. Conning Inc.’s holdings in Analog Devices were worth $31,615,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Davidson Trust Co. raised its position in Analog Devices by 26.6% during the first quarter. Davidson Trust Co. now owns 1,244 shares of the semiconductor company’s stock valued at $251,000 after buying an additional 261 shares during the period. North Capital Inc. purchased a new position in Analog Devices during the 1st quarter valued at about $36,000. D.A. Davidson & CO. grew its stake in Analog Devices by 11.5% during the 1st quarter. D.A. Davidson & CO. now owns 7,211 shares of the semiconductor company’s stock valued at $1,454,000 after acquiring an additional 743 shares in the last quarter. Clark Asset Management LLC increased its holdings in shares of Analog Devices by 12.5% in the 1st quarter. Clark Asset Management LLC now owns 2,164 shares of the semiconductor company’s stock valued at $436,000 after purchasing an additional 240 shares during the period. Finally, Resonant Capital Advisors LLC lifted its position in shares of Analog Devices by 3.3% in the first quarter. Resonant Capital Advisors LLC now owns 19,754 shares of the semiconductor company’s stock worth $3,984,000 after purchasing an additional 626 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 0.4%

ADI opened at $246.08 on Friday. The firm has a market cap of $122.12 billion, a P/E ratio of 67.05, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. The business has a 50 day moving average price of $220.07 and a 200 day moving average price of $212.46. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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 net margin of 18.65% and a return on equity of 9.56%. The business 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 company earned $1.40 earnings per share. Analog Devices’s revenue for the quarter was up 22.3% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current 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 issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 107.90%.

Insider Activity

In related news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the transaction, the director owned 180,071 shares of the company’s stock, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’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 value of $1,968,400.00. Following the completion of the sale, the chief executive officer directly owned 142,996 shares in the company, valued at $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,250 shares of company stock worth $3,143,556. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on ADI shares. Cfra Research downgraded shares of Analog Devices from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, May 22nd. Seaport Res Ptn raised shares of Analog Devices to a “strong sell” rating in a research note on Wednesday, April 30th. TD Cowen boosted their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Oppenheimer upped their price target on shares of Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $251.75.

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.