Analog Devices, Inc. (NASDAQ:ADI) Stock Position Lessened by Cetera Investment Advisers

Cetera Investment Advisers reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,481 shares of the semiconductor company’s stock after selling 5,720 shares during the quarter. Cetera Investment Advisers’ holdings in Analog Devices were worth $20,197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Swedbank AB acquired a new position in shares of Analog Devices during the first quarter valued at approximately $537,171,000. Vanguard Group Inc. boosted its stake in Analog Devices by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after purchasing an additional 1,753,536 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after buying an additional 1,330,242 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of Analog Devices in the first quarter valued at $181,232,000. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADI. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. Morgan Stanley raised their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the transaction, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is owned by company insiders.

Analog Devices Price Performance

NASDAQ ADI opened at $226.56 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 firm has a market cap of $112.42 billion, a P/E ratio of 52.93, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07. The stock’s 50-day moving average is $222.79 and its two-hundred day moving average is $218.10. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI) last released its earnings results 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 firm 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 business’s revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.49 EPS. On average, analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. Analog Devices’s payout ratio is 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.