Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,608 shares of the semiconductor company’s stock after selling 106 shares during the quarter. Ballentine Partners LLC’s holdings in Analog Devices were worth $2,494,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Analog Devices by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after purchasing an additional 21,522 shares during the period. Point72 Italy S.r.l. acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $850,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $1,152,000. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Analog Devices by 107.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after purchasing an additional 6,564 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Price Performance

NASDAQ:ADI traded down $1.56 during trading hours on Monday, reaching $229.49. 70,916 shares of the company traded hands, compared to its average volume of 3,346,057. The firm’s 50-day moving average is $216.13 and its 200-day moving average is $201.32. The stock has a market cap of $113.88 billion, a P/E ratio of 53.98, a P/E/G ratio of 3.87 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $241.88.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. Analog Devices’s quarterly revenue was down 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.83 EPS. Equities research analysts expect that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed 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 1.60%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Analyst Ratings Changes

ADI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Bank of America upped their price objective on Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, May 23rd. The Goldman Sachs Group upped their price objective on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Truist Financial upped their price objective on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now owns 69,241 shares in the company, valued at $16,198,239.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Champy sold 4,200 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the transaction, the director now directly owns 6,371 shares in the company, valued at $1,487,947.05. The disclosure for this sale can be found here. Insiders have sold 50,121 shares of company stock worth $10,875,654 over the last quarter. 0.31% of the stock is currently owned by insiders.

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.