Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its position in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 0.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,185 shares of the semiconductor company’s stock after selling 73 shares during the period. Gulf International Bank UK Ltd’s holdings in Analog Devices were worth $14,731,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Heron Financial Group LLC lifted its position in shares of Analog Devices by 1.5% in the 4th quarter. Heron Financial Group LLC now owns 4,288 shares of the semiconductor company’s stock worth $709,000 after buying an additional 65 shares during the last quarter. Blossom Wealth Management grew its stake in shares of Analog Devices by 4.8% in the 1st quarter. Blossom Wealth Management now owns 1,424 shares of the semiconductor company’s stock worth $235,000 after purchasing an additional 65 shares during the last quarter. American National Bank increased its position in shares of Analog Devices by 10.9% in the first quarter. American National Bank now owns 682 shares of the semiconductor company’s stock worth $113,000 after acquiring an additional 67 shares in the last quarter. Mission Wealth Management LP boosted its holdings in shares of Analog Devices by 3.1% during the fourth quarter. Mission Wealth Management LP now owns 2,395 shares of the semiconductor company’s stock worth $421,000 after purchasing an additional 73 shares during the period. Finally, First Pacific Financial lifted its stake in Analog Devices by 1.4% in the first quarter. First Pacific Financial now owns 5,584 shares of the semiconductor company’s stock valued at $922,000 after acquiring an additional 77 shares during the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ADI shares. UBS Group reduced their price objective on shares of Analog Devices to $210.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. The Goldman Sachs Group reduced their price target on shares of Analog Devices from $185.00 to $167.00 in a research report on Friday, July 15th. Sanford C. Bernstein upped their target price on shares of Analog Devices to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 19th. Bank of America lowered their target price on Analog Devices from $220.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Finally, Morgan Stanley lowered their target price on Analog Devices from $186.00 to $173.00 and set an “equal weight” rating for the company in a research note on Friday, June 10th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.79.

Analog Devices Stock Up 0.7 %

Analog Devices stock traded up $1.12 during trading on Thursday, hitting $169.45. 37,193 shares of the company were exchanged, compared to its average volume of 2,890,238. The business’s 50 day moving average is $155.65 and its 200 day moving average is $158.55. Analog Devices, Inc. has a 52 week low of $138.50 and a 52 week high of $191.95. The company has a market capitalization of $88.08 billion, a P/E ratio of 47.67, a PEG ratio of 1.43 and a beta of 1.09. The company has a current ratio of 1.99, a quick ratio of 1.53 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADIGet Rating) last announced its quarterly earnings results on Wednesday, May 18th. The semiconductor company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.28. Analog Devices had a return on equity of 12.11% and a net margin of 16.84%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. Analog Devices’s revenue was up 78.9% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 9.23 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 9th. Shareholders of record on Tuesday, May 31st were given a $0.76 dividend. The ex-dividend date was Friday, May 27th. This represents a $3.04 annualized dividend and a yield of 1.79%. Analog Devices’s dividend payout ratio is currently 86.12%.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 1,435 shares of the business’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $166.90, for a total value of $239,501.50. Following the transaction, the director now owns 2,525 shares of the company’s stock, valued at $421,422.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Edward H. Frank sold 1,435 shares of the company’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $166.90, for a total transaction of $239,501.50. Following the transaction, the director now owns 2,525 shares of the company’s stock, valued at approximately $421,422.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 3,901 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $163.14, for a total value of $636,409.14. Following the transaction, the chief financial officer now directly owns 16,108 shares in the company, valued at approximately $2,627,859.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,036 shares of company stock valued at $1,603,911. Insiders own 0.91% of the company’s stock.

Analog Devices Company Profile

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

Further Reading

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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