CVA Family Office LLC Trims Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

CVA Family Office LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 76.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315 shares of the semiconductor company’s stock after selling 1,010 shares during the period. CVA Family Office LLC’s holdings in Analog Devices were worth $44,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ADI. Coston McIsaac & Partners purchased a new position in Analog Devices in the second quarter valued at $27,000. Worth Asset Management LLC purchased a new position in Analog Devices in the first quarter valued at $33,000. Eagle Bay Advisors LLC purchased a new position in Analog Devices in the second quarter valued at $41,000. Old North State Trust LLC purchased a new position in Analog Devices in the third quarter valued at $43,000. Finally, Pinnacle Financial Partners Inc. purchased a new position in Analog Devices in the third quarter valued at $45,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity

In other news, Director Tunc Doluca sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $194.34, for a total value of $1,166,040.00. Following the sale, the director now directly owns 61,157 shares of the company’s stock, valued at approximately $11,885,251.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Tunc Doluca sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $194.34, for a total transaction of $1,166,040.00. Following the sale, the director now directly owns 61,157 shares of the company’s stock, valued at approximately $11,885,251.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Champy sold 1,495 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total transaction of $277,232.80. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,181,438.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,195 shares of company stock valued at $2,697,723. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADI. Raymond James lifted their price objective on shares of Analog Devices from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. Cowen lifted their target price on shares of Analog Devices from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, December 9th. UBS Group lifted their target price on shares of Analog Devices from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Susquehanna lifted their target price on shares of Analog Devices from $205.00 to $225.00 and gave the company a “positive” rating in a research report on Thursday, February 16th. Finally, Cowen lifted their target price on shares of Analog Devices from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $213.68.

Analog Devices Price Performance

Shares of ADI stock opened at $186.63 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.50. The firm’s 50-day moving average is $178.30 and its two-hundred day moving average is $162.79. Analog Devices, Inc. has a 12 month low of $133.48 and a 12 month high of $196.41. The company has a market capitalization of $94.41 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.14.

Analog Devices (NASDAQ:ADI – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The semiconductor company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.15. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.15 billion. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The business’s revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. Analysts predict that Analog Devices, Inc. will post 10.6 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 8th. Stockholders of record on Monday, February 27th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.84%. This is an increase from Analog Devices’s previous quarterly dividend of $0.76. The ex-dividend date was Friday, February 24th. Analog Devices’s payout ratio is 51.89%.

Analog Devices Profile

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.