Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Pensioenfonds Rail & OV

Pensioenfonds Rail & OV cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 21.1% in the first quarter, HoldingsChannel reports. The fund owned 220,755 shares of the semiconductor company’s stock after selling 59,157 shares during the quarter. Analog Devices accounts for 3.2% of Pensioenfonds Rail & OV’s portfolio, making the stock its 4th biggest holding. Pensioenfonds Rail & OV’s holdings in Analog Devices were worth $43,663,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. raised its stake in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas grew its holdings in Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 65 shares during the last quarter. Silver Oak Securities Incorporated acquired a new stake in Analog Devices in the 3rd quarter valued at approximately $29,000. Cetera Trust Company N.A acquired a new stake in Analog Devices in the 4th quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in Analog Devices in the 4th quarter valued at approximately $29,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on ADI. Evercore ISI began coverage on Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Citigroup lifted their price objective on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Jefferies Financial Group started coverage on Analog Devices in a report on Monday, May 13th. They set a “buy” rating and a $250.00 price objective on the stock. Finally, Bank of America lifted their price objective on Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $243.23.

Analog Devices Trading Down 1.1 %

ADI stock traded down $2.50 during trading on Wednesday, hitting $227.84. The company had a trading volume of 2,379,564 shares, compared to its average volume of 3,338,117. The firm has a 50-day moving average price of $217.68 and a 200-day moving average price of $201.95. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $241.88. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The stock has a market cap of $113.06 billion, a price-to-earnings ratio of 53.06, a PEG ratio of 3.89 and a beta of 1.12.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm’s quarterly revenue was down 33.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.83 earnings per share. As a group, analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio is 85.98%.

Insider Buying and Selling

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The shares were 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 of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The shares were 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 of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders sold a total of 50,121 shares of company stock valued at $10,875,654 over the last ninety days. Insiders own 0.31% of the company’s stock.

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.