Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 13.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,419 shares of the semiconductor company’s stock after selling 15,317 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Analog Devices were worth $22,237,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. New Millennium Group LLC purchased a new stake in Analog Devices during the 2nd quarter valued at approximately $29,000. USA Financial Formulas lifted its holdings in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares during the period. Private Wealth Management Group LLC purchased a new position in Analog Devices in the 4th quarter valued at $29,000. Riverview Trust Co purchased a new position in Analog Devices in the 1st quarter valued at $30,000. Finally, ORG Partners LLC increased its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ADI shares. KeyCorp increased their price objective on Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Robert W. Baird lifted their price target on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Sanford C. Bernstein increased their price objective on shares of Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Citigroup upped their price target on shares of Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $251.45.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Edward H. Frank sold 995 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 directly owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The disclosure for this sale can be found here. Insiders have sold 49,107 shares of company stock worth $11,301,610 in the last quarter. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Up 2.3 %

ADI opened at $218.56 on Tuesday. The company has a market cap of $108.45 billion, a PE ratio of 51.07, a price-to-earnings-growth ratio of 3.55 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The firm has a 50 day moving average price of $225.26 and a 200 day moving average price of $214.30.

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

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

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.