Pallas Capital Advisors LLC Sells 129 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Pallas Capital Advisors LLC lowered its holdings in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,697 shares of the semiconductor company’s stock after selling 129 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Analog Devices were worth $337,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Analog Devices during the 4th quarter worth $1,040,194,000. Moneta Group Investment Advisors LLC boosted its holdings in Analog Devices by 101,479.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock worth $674,482,000 after acquiring an additional 4,107,895 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after acquiring an additional 2,497,696 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Analog Devices by 236.6% in the 2nd quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock worth $450,446,000 after buying an additional 1,625,377 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Analog Devices by 639.7% in the 3rd quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after buying an additional 1,486,180 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Down 0.9 %

ADI stock opened at $194.88 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $193.13 and its 200 day moving average is $184.95. The stock has a market cap of $96.64 billion, a price-to-earnings ratio of 34.86, a price-to-earnings-growth ratio of 4.96 and a beta of 1.17. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $202.77.

Analog Devices (NASDAQ:ADIGet Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.75 earnings per share. Sell-side analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. 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, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold 21,228 shares of company stock worth $4,137,802 over the last ninety days. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays boosted their price target on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Edward Jones raised shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research note on Thursday, January 18th. Morgan Stanley restated an “overweight” rating and issued a $212.00 price objective (down from $219.00) on shares of Analog Devices in a research note on Thursday, February 22nd. Finally, Sanford C. Bernstein cut Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective on the stock. in a research note on Thursday, January 4th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.26.

Get Our Latest Stock Report on ADI

About Analog Devices

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.