Brighton Jones LLC Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Brighton Jones LLC lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 39.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,434 shares of the semiconductor company’s stock after selling 951 shares during the period. Brighton Jones LLC’s holdings in Analog Devices were worth $285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Pinnacle Bancorp Inc. boosted its stake in shares of Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 65 shares during the last quarter. Cetera Trust Company N.A bought a new position in Analog Devices during the 4th quarter valued at $29,000. Stuart Chaussee & Associates Inc. acquired a new position in Analog Devices during the 4th quarter worth $32,000. Northwest Capital Management Inc increased its position in shares of Analog Devices by 519.2% in the 4th quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 135 shares during the last quarter. Finally, Silver Oak Securities Incorporated acquired a new stake in shares of Analog Devices in the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 1.6 %

NASDAQ:ADI opened at $199.63 on Friday. The stock has a market cap of $99.00 billion, a price-to-earnings ratio of 35.71, a PEG ratio of 4.86 and a beta of 1.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $204.20. The business has a fifty day moving average of $194.08 and a 200-day moving average of $187.97.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm posted $2.75 EPS. Analog Devices’s revenue was down 22.7% compared to the same quarter last year. Equities analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a yield of 1.84%. Analog Devices’s payout ratio is presently 65.83%.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,874,613 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of research reports. Evercore ISI initiated coverage on Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target for the company. The Goldman Sachs Group boosted their price target on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a research note on Monday, March 4th. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a report on Thursday, January 18th. Finally, KeyCorp increased their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

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.