Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Diversified Trust Co

Diversified Trust Co decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,773 shares of the semiconductor company’s stock after selling 67 shares during the period. Diversified Trust Co’s holdings in Analog Devices were worth $746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADI. Pinnacle Bancorp Inc. raised its position in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas lifted its stake in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares during the last quarter. Silver Oak Securities Incorporated acquired a new stake in Analog Devices during the third quarter valued at approximately $29,000. Cetera Trust Company N.A bought a new stake in Analog Devices during the fourth quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Analog Devices in the fourth quarter valued at $29,000. 86.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ADI has been the subject of several research reports. Bank of America raised their price objective on Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Robert W. Baird upped their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. The Goldman Sachs Group lifted their price objective on shares of Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Evercore ISI assumed coverage on Analog Devices in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price for the company. Finally, KeyCorp increased their price objective on Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

Analog Devices Stock Up 1.4 %

ADI opened at $228.24 on Wednesday. The business has a 50 day moving average of $220.91 and a 200-day moving average of $202.90. The stock has a market capitalization of $113.26 billion, a price-to-earnings ratio of 53.33, a P/E/G ratio of 3.85 and a beta of 1.08. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $241.88.

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

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Activity

In related news, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $236.58, for a total value of $1,142,681.40. Following the sale, the chief accounting officer now directly 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 this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,121 shares of company stock worth $11,168,654. 0.31% of the stock is currently owned by corporate 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.