Intech Investment Management LLC sells 17,822 shares of Analog Devices, Inc. (NASDAQ:ADI)

Intech Investment Management LLC reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 45.1% in the first quarter, according to the company’s latest Form 13F filing with the SEC. The firm came to own 21,715 shares of the semiconductor company after selling 17,822 shares during the quarter. Intech Investment Management LLC’s stake in Analog Devices was worth $4,295,000, according to the company’s latest SEC filing.

Other institutional investors also recently changed their holdings in the company. Pinnacle Bancorp Inc. increased its position in shares of Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares during the period. USA Financial Formulas increased its position in shares of Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 65 shares during the period. Cetera Trust Company NA bought a new share of Analog Devices in the fourth quarter worth approximately $29,000. Private Wealth Management Group LLC bought a new share of Analog Devices in the fourth quarter worth approximately $29,000. Finally, Riverview Trust Co bought a new stake in Analog Devices in the first quarter worth approximately $30,000. Institutional investors hold 86.81% of the company’s shares.

Analyst ratings upgrades and downgrades

Several research firms have recently commented on ADI. Susquehanna raised their price objective for shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research report on Thursday, May 23. Citigroup raised their price objective for shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 23. KeyCorp raised their price objective for shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23. UBS Group raised their price objective for shares of Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 23. Finally, Oppenheimer raised their price target on shares of Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16. Seven research analysts have rated the stock a “hold,” while eighteen have rated it a “buy.” The stock currently has an average rating of “Moderate Buy” and an average price target of $245.50, according to data from MarketBeat.

Read our latest report on ADI

Internal Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the CEO now directly 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 can be accessed through this hyperlink . In other Analog Devices news, Director James Champy sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 28. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the transaction, the executive now directly owns 6,371 shares of the company’s stock, valued at approximately $1,487,947.05. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available at this link . Additionally, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total of $1,970,600.00. Following the transaction, the CEO now owns 51,039 shares of the company’s stock, valued at $10,057,745.34. Disclosure of this sale can be found here . Insiders have sold 46,642 shares of the company’s stock valued at $10,481,343 over the last ninety days. Insiders own 0.31% of the company’s stock.

Sales of analog devices increased by 2.3%

Analog Devices, Inc. stock was up $5.38 on Monday, reaching $236.60. The stock had trading volume of 423,336 shares, compared to its average volume of 3,247,202. The stock has a 50-day moving average of $230.45 and a 200-day moving average of $206.60. The low of Analog Devices, Inc. stock in twelve months was $154.99, and the high was $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a current ratio of 1.58. The company has a market capitalization of $117.41 billion, a P/E ratio of 54.02, a PEG ratio of 3.90 and a beta of 1.08.

Analog Devices (NASDAQ:ADI – Get Free Report) last announced its financial results on Wednesday, May 22. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s revenue for the quarter was $2.16 billion, compared to analysts’ expectations of $2.11 billion. During the same period last year, the company reported $2.83 earnings per share. The company’s revenue fell 33.8% year-over-year. Sell-side analysts expect Analog Devices, Inc. to report earnings per share of $6.24 for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17. Investors of record on Tuesday, June 4, received a dividend of $0.92. This represents an annual dividend of $3.68 and a yield of 1.56%. The ex-dividend date was Tuesday, June 4. Analog Devices currently has a payout ratio of 85.98%.

Analog Device Profile

(Free report)

Analog Devices, Inc. designs, manufactures, tests, and sells integrated circuits (ICs), software, and subsystem products in the United States, the rest of North and South America, Europe, Japan, China, and the rest of Asia. The company provides data converter products that translate real-world analog signals into digital data, and that translate digital data into analog signals; power management and reference products for power conversion, controller monitoring, sequencing, and power management in automotive, communications, industrial, and consumer applications; and power supply ICs, which include performance simulation, integration, and software design tools for accurate power supply design.

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