Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Sienna Gestion

Sienna Gestion trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 96.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,261 shares of the semiconductor company’s stock after selling 56,543 shares during the period. Sienna Gestion’s holdings in Analog Devices were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Elo Mutual Pension Insurance Co lifted its position in Analog Devices by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 45,572 shares of the semiconductor company’s stock worth $10,402,000 after buying an additional 228 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Analog Devices by 20.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 45,487 shares of the semiconductor company’s stock worth $10,363,000 after acquiring an additional 7,631 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Analog Devices by 9.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 44,636 shares of the semiconductor company’s stock valued at $10,189,000 after acquiring an additional 3,860 shares during the last quarter. Argent Trust Co grew its holdings in shares of Analog Devices by 4.8% in the second quarter. Argent Trust Co now owns 20,686 shares of the semiconductor company’s stock valued at $4,722,000 after purchasing an additional 944 shares during the period. Finally, E Fund Management Co. Ltd. increased its position in Analog Devices by 21.0% during the second quarter. E Fund Management Co. Ltd. now owns 9,982 shares of the semiconductor company’s stock worth $2,278,000 after purchasing an additional 1,731 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. Susquehanna raised their target price on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday, May 23rd. UBS Group upped their price target on Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Bank of America cut their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Sanford C. Bernstein increased their price objective on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $251.45.

Analog Devices Stock Performance

Shares of ADI opened at $222.64 on Thursday. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The stock has a market capitalization of $110.48 billion, a PE ratio of 52.02, a PEG ratio of 3.74 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock has a 50-day simple moving average of $224.04 and a 200-day simple moving average of $215.73.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.65%. Analog Devices’s dividend payout ratio is currently 85.98%.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,495 shares of company stock valued at $7,181,458. 0.31% of the stock is owned by corporate insiders.

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.