Victory Capital Management Inc. Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Victory Capital Management Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 40.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,512 shares of the semiconductor company’s stock after selling 25,064 shares during the quarter. Victory Capital Management Inc.’s holdings in Analog Devices were worth $4,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of ADI. Vanguard Group Inc. lifted its holdings in Analog Devices by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 31,611,473 shares of the semiconductor company’s stock worth $3,567,986,000 after buying an additional 506,468 shares during the period. Wells Fargo & Company MN lifted its holdings in Analog Devices by 3.6% in the 2nd quarter. Wells Fargo & Company MN now owns 7,579,610 shares of the semiconductor company’s stock worth $855,510,000 after buying an additional 260,484 shares during the period. Bank of New York Mellon Corp lifted its holdings in Analog Devices by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,937,825 shares of the semiconductor company’s stock worth $331,591,000 after buying an additional 84,299 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Analog Devices by 42.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,801,429 shares of the semiconductor company’s stock worth $189,636,000 after buying an additional 533,882 shares during the period. Finally, Fiera Capital Corp lifted its holdings in Analog Devices by 1.2% in the 2nd quarter. Fiera Capital Corp now owns 1,688,066 shares of the semiconductor company’s stock worth $190,532,000 after buying an additional 20,370 shares during the period. Institutional investors own 87.50% of the company’s stock.

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $92.34, for a total transaction of $923,400.00. Following the completion of the transaction, the chief executive officer now owns 351,335 shares of the company’s stock, valued at approximately $32,442,273.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Gregory N. Henderson sold 3,476 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $115.04, for a total value of $399,879.04. Following the transaction, the senior vice president now directly owns 7,774 shares of the company’s stock, valued at approximately $894,320.96. The disclosure for this sale can be found here. Insiders sold a total of 54,206 shares of company stock valued at $6,064,261 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Shares of NASDAQ:ADI traded up $2.01 during trading on Thursday, hitting $110.98. The stock had a trading volume of 79,770 shares, compared to its average volume of 1,851,371. Analog Devices, Inc. has a 12 month low of $76.62 and a 12 month high of $124.79. The company has a market capitalization of $41.27 billion, a PE ratio of 18.68, a PEG ratio of 2.05 and a beta of 1.43. The firm’s fifty day moving average is $111.30 and its 200 day moving average is $110.40. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.45.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.04. Analog Devices had a return on equity of 17.87% and a net margin of 24.71%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company earned $1.53 EPS. The business’s revenue was down 5.0% compared to the same quarter last year. Equities research analysts expect that Analog Devices, Inc. will post 5.2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Thursday, August 29th. Analog Devices’s dividend payout ratio is currently 36.36%.

Several research firms have weighed in on ADI. BidaskClub upgraded Analog Devices from a “sell” rating to a “hold” rating in a report on Saturday, August 31st. Morgan Stanley increased their price objective on Analog Devices from $97.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, August 22nd. ValuEngine cut Analog Devices from a “buy” rating to a “hold” rating in a report on Wednesday. Goldman Sachs Group upgraded Analog Devices from a “sell” rating to a “buy” rating and increased their price objective for the stock from $101.00 to $114.00 in a report on Monday, June 10th. Finally, Piper Jaffray Companies increased their price objective on Analog Devices from $118.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $113.56.

About Analog Devices

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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

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