PFG Investments LLC Sells 93 Shares of Analog Devices, Inc. (NASDAQ:ADI)

PFG Investments LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,516 shares of the semiconductor company’s stock after selling 93 shares during the quarter. PFG Investments LLC’s holdings in Analog Devices were worth $346,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Point72 Italy S.r.l. purchased a new position in Analog Devices in the 4th quarter worth approximately $6,367,000. Grayhawk Investment Strategies Inc. purchased a new position in shares of Analog Devices in the fourth quarter worth $850,000. Capital International Investors boosted its position 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 worth $895,702,000 after acquiring an additional 246,799 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its stake in Analog Devices by 1,055.6% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock valued at $45,326,000 after acquiring an additional 208,522 shares in the last quarter. Finally, Profund Advisors LLC increased its holdings in Analog Devices by 16.2% in the 4th quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock valued at $14,365,000 after acquiring an additional 10,106 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. The disclosure for this sale can be found here. In the last three months, insiders sold 31,495 shares of company stock valued at $7,181,458. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Trading Down 1.6 %

ADI stock opened at $221.53 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The company has a market capitalization of $109.93 billion, a PE ratio of 51.76, a P/E/G ratio of 3.55 and a beta of 1.07. The firm’s 50-day moving average is $224.80 and its 200 day moving average is $214.63. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 earnings per share. On average, research analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.66%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, July 16th. Stifel Nicolaus upped their price objective on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Bank of America cut their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, UBS Group upped their price target on shares of Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $251.45.

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.