AdvisorNet Financial Inc Cuts Position in Analog Devices, Inc. (NASDAQ:ADI)

AdvisorNet Financial Inc trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 14.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,022 shares of the semiconductor company’s stock after selling 166 shares during the quarter. AdvisorNet Financial Inc’s holdings in Analog Devices were worth $202,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ADI. Northwest Investment Counselors LLC purchased a new stake in shares of Analog Devices during the 1st quarter valued at about $69,000. Royal Fund Management LLC raised its holdings in shares of Analog Devices by 7.5% during the 1st quarter. Royal Fund Management LLC now owns 7,334 shares of the semiconductor company’s stock valued at $1,451,000 after buying an additional 512 shares during the period. Salem Investment Counselors Inc. raised its holdings in shares of Analog Devices by 17.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 1,647 shares of the semiconductor company’s stock valued at $326,000 after buying an additional 239 shares during the period. &PARTNERS purchased a new stake in shares of Analog Devices during the 1st quarter valued at about $1,109,000. Finally, Running Oak Capital LLC raised its holdings in shares of Analog Devices by 12.4% during the 1st quarter. Running Oak Capital LLC now owns 53,655 shares of the semiconductor company’s stock valued at $10,612,000 after buying an additional 5,938 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at $10,075,098.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the sale, the chief accounting officer now owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The disclosure for this sale can be found here. Insiders have sold 50,121 shares of company stock valued at $10,875,654 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADI. JPMorgan Chase & Co. raised their target price on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Sanford C. Bernstein raised their price objective on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, May 23rd. KeyCorp raised their price objective on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Bank of America raised 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. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.23.

Analog Devices Trading Up 0.8 %

NASDAQ:ADI opened at $230.34 on Wednesday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $241.88. The firm has a market capitalization of $114.30 billion, a P/E ratio of 53.82, a P/E/G ratio of 3.90 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. The business has a 50 day simple moving average of $217.68 and a 200 day simple moving average of $201.95.

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

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is currently 85.98%.

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.