Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 71.6% in the 3rd quarter, Holdings Channel reports. The firm owned 23,024 shares of the semiconductor company’s stock after selling 58,018 shares during the period. Cumberland Partners Ltd’s holdings in Analog Devices were worth $5,299,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ADI. Swedbank AB acquired a new position in shares of Analog Devices during the 1st quarter worth about $537,171,000. Vanguard Group Inc. grew its stake in Analog Devices by 4.7% during 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 acquiring an additional 2,160,668 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after acquiring an additional 1,753,536 shares in the last quarter. Raymond James & Associates grew its stake in Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after acquiring an additional 1,422,054 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in 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 acquiring an additional 1,330,242 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity

In other news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the sale, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction 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 sale, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Stock Down 0.7 %

Analog Devices stock traded down $1.62 during mid-day trading on Tuesday, reaching $218.85. 125,236 shares of the company’s stock were exchanged, compared to its average volume of 3,197,650. The company has a market cap of $108.66 billion, a P/E ratio of 66.21, a P/E/G ratio of 3.17 and a beta of 1.08. Analog Devices, Inc. has a twelve month low of $170.10 and a twelve month high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $226.32 and a 200-day moving average of $224.99.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.49 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Analyst Ratings Changes

Several analysts recently issued reports on ADI shares. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America dropped their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Barclays increased their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $249.80.

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.