Sienna Gestion Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Sienna Gestion cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 96.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,261 shares of the semiconductor company’s stock after selling 56,543 shares during the period. Sienna Gestion’s holdings in Analog Devices were worth $516,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in shares of Analog Devices during the second quarter worth approximately $29,000. Riverview Trust Co purchased a new position in Analog Devices during the 1st quarter worth $30,000. ORG Partners LLC lifted its stake in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares during the period. CVA Family Office LLC boosted its holdings in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices during the second quarter worth about $37,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADI. Sanford C. Bernstein boosted their target price on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Citigroup upped their price objective on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Barclays raised their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley upped their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.45.

Analog Devices Stock Down 1.2 %

Shares of NASDAQ ADI opened at $222.64 on Thursday. The stock has a market capitalization of $110.48 billion, a PE ratio of 52.02, a P/E/G ratio of 3.74 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average of $224.04 and a 200-day moving average of $215.73. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14.

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

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.65%. Analog Devices’s payout ratio is 85.98%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. The disclosure for this sale can be found here. Insiders have sold a total of 31,495 shares of company stock valued at $7,181,458 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices 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.