Marcum Wealth LLC Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Marcum Wealth LLC trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 9.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,546 shares of the semiconductor company’s stock after selling 158 shares during the quarter. Marcum Wealth LLC’s holdings in Analog Devices were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its holdings in Analog Devices by 8.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after purchasing an additional 1,197,215 shares during the period. Norges Bank purchased a new position in Analog Devices during the 4th quarter valued at about $1,225,227,000. Capital International Investors boosted its stake in shares of Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after purchasing an additional 246,799 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Analog Devices by 9.3% during the fourth quarter. First Eagle Investment Management LLC now owns 3,836,884 shares of the semiconductor company’s stock valued at $761,852,000 after buying an additional 327,542 shares during the period. Finally, Baillie Gifford & Co. raised its stake in Analog Devices by 11.7% in the fourth quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock worth $753,379,000 after buying an additional 397,753 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Up 0.7 %

NASDAQ:ADI opened at $231.05 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The company’s fifty day moving average price is $216.13 and its 200-day moving average price is $201.18. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $241.88. The firm has a market capitalization of $114.65 billion, a P/E ratio of 53.98, a PEG ratio of 3.87 and a beta of 1.12.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the business posted $2.83 EPS. The company’s revenue was down 33.8% on a year-over-year basis. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group upped their price objective on Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Barclays lifted their price objective on shares of Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, May 20th. UBS Group increased their target price on shares of Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Oppenheimer lifted their price target on shares of Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $243.23.

Insider Activity at Analog Devices

In related news, CAO Michael Sondel sold 4,830 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the sale, the chief accounting officer now owns 10,547 shares in the company, valued at $2,495,209.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the transaction, the chief accounting officer now owns 10,547 shares in the company, valued at $2,495,209.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The disclosure for this sale can be found here. Insiders sold a total of 50,121 shares of company stock worth $10,875,654 in the last three months. Company insiders own 0.31% of the company’s stock.

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.