Artisan Partners Limited Partnership sells 22,955 shares of Analog Devices, Inc. (NASDAQ:ADI)

Artisan Partners Limited Partnership has reduced its stake in Analog Devices, Inc., according to its latest filing with the Securities and Exchange Commission. (NASDAQ:ADI – Free Report) up 4.0% in the fourth quarter. The institutional investor owned 545,756 shares of the semiconductor company after selling 22,955 shares during the quarter. At the end of the last quarter, Artisan Partners Limited Partnership held approximately 0.11% of Analog Devices worth $108,365,000.

Several other large investors have also recently increased or decreased their stakes in the stock. In the fourth quarter, Pinnacle Bancorp Inc. increased its stake in Analog Devices shares by 101.6%. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares in the last quarter. USA Financial Formulas increased its position in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in shares of Analog Devices during the third quarter worth approximately $29,000. Cetera Trust Company NA acquired a new stake in shares of Analog Devices during the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $29,000. 86.81% of the shares are currently owned by hedge funds and other institutional investors.

Analog equipment inventory performance

ADI fell $0.93 during Tuesday’s session, reaching $231.58. The stock’s trading volume was 1,414,999 shares while its average trading volume was 3,362,792. The company has a market capitalization of $114.91 billion, a P/E ratio of 54.32, a PEG ratio of 3.97 and a beta of 1.14. The company has a debt to equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $241.88. The company’s 50-day moving average price is $201.49 and its 200-day moving average price is $194.30.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, which topped analysts’ consensus estimates of $1.26 by $0.14. The company’s revenue for the quarter was $2.16 billion, compared to analyst estimates of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s revenues decreased by 33.8% compared to the same quarter last year. During the same period last year, the company reported earnings per share of $2.83. On average, equity research analysts forecast that Analog Devices, Inc. will report 6.16 EPS for the current financial year.

Analog Devices announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Investors of record will receive a dividend of $0.92 per share on Tuesday, June 4. This represents a dividend of $3.68 on an annualized basis and a yield of 1.59%. The ex-dividend date is Tuesday, June 4. Analog Devices’ dividend payout ratio is currently 85.98%.

Insiders place their bets

In other news, VP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4. The shares were sold at an average price of $197.56, for a total transaction amount of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the SEC, available on the SEC’s website. In related news, VP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following 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 and Exchange Commission, which can be accessed through this hyperlink. Additionally, Director James Champy sold 1,228 shares of Analog Devices stock on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The announcement of this sale can be found here. In the last quarter, insiders sold 24,707 shares of company stock worth $4,874,613. 0.31% of the shares belong to corporate insiders.

Changes in analyst ratings

Many equity research analysts have published reports on ADI stock. Morgan Stanley increased their price target on Analog Devices from $221.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Needham & Company LLC affirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, May 23. Susquehanna upped their price target on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a report on Thursday, May 23rd. TD Cowen increased their price target on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” in a report on Thursday, May 23rd. Finally, Citigroup upped their price target on Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Seven equity analysts have rated the stock with a hold rating and eighteen have rated the stock with a buy rating. Based on data from MarketBeat.com, the company’s consensus rating is currently “Moderate Buy” and the consensus price target is $243.23.

Check out our latest analog device stock report

Analog device profile

(free report)

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

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