Cobblestone Capital Advisors LLC NY Lowers Stake in Analog Devices, Inc. (NASDAQ:ADI)

Cobblestone Capital Advisors LLC NY trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 8.7% during the second quarter, HoldingsChannel.com reports. The firm owned 1,836 shares of the semiconductor company’s stock after selling 175 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Analog Devices were worth $419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Analog Devices by 8.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after buying an additional 1,197,215 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Analog Devices by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after buying an additional 1,330,242 shares during the period. Norges Bank acquired a new position in Analog Devices during the 4th quarter worth approximately $1,225,227,000. Finally, Capital International Investors lifted its position in Analog Devices by 14.3% during the 1st quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after acquiring an additional 644,945 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Price Performance

Shares of ADI traded down $5.42 during trading hours on Friday, hitting $213.64. The stock had a trading volume of 3,437,085 shares, compared to its average volume of 3,368,705. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The stock has a market capitalization of $106.01 billion, a price-to-earnings ratio of 49.92, a P/E/G ratio of 3.91 and a beta of 1.07. The company’s fifty day moving average is $225.39 and its two-hundred day moving average is $213.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

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

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders 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 1.72%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ADI shares. JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Stifel Nicolaus boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Sanford C. Bernstein upped 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 report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, KeyCorp boosted their price target on Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $251.45.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,107 shares of company stock worth $11,301,610. Corporate insiders own 0.31% of the company’s stock.

Analog Devices 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.