Analog Devices, Inc. $ADI Shares Sold by Associated Banc Corp

Associated Banc Corp lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 23,640 shares of the semiconductor company’s stock after selling 798 shares during the period. Associated Banc Corp’s holdings in Analog Devices were worth $5,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its position in Analog Devices by 39.5% in the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after acquiring an additional 529 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Analog Devices by 1.1% in the first quarter. Cetera Investment Advisers now owns 94,970 shares of the semiconductor company’s stock valued at $19,153,000 after purchasing an additional 1,012 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Analog Devices by 2.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,519 shares of the semiconductor company’s stock valued at $23,902,000 after purchasing an additional 2,302 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Analog Devices by 11.0% in the first quarter. LPL Financial LLC now owns 528,072 shares of the semiconductor company’s stock valued at $106,496,000 after purchasing an additional 52,416 shares in the last quarter. Finally, Prosperity Consulting Group LLC purchased a new stake in Analog Devices during the 1st quarter worth approximately $250,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 5.3%

ADI opened at $252.02 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $258.13. The company has a market cap of $123.98 billion, a P/E ratio of 64.29, a PEG ratio of 1.98 and a beta of 1.09. The business’s 50-day simple moving average is $238.83 and its 200-day simple moving average is $235.61.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 earnings per share. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be issued a $0.99 dividend. The ex-dividend date is Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.6%. Analog Devices’s dividend payout ratio is presently 101.02%.

Insider Activity at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total value of $719,406.25. Following the transaction, the director directly owned 142,571 shares of the company’s stock, valued at $32,821,269.91. This trade represents a 2.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Martin Cotter sold 12,500 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the completion of the transaction, the senior vice president directly owned 63,048 shares in the company, valued at $15,525,570. This trade represents a 16.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 39,750 shares of company stock worth $9,598,496. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ADI shares. Zacks Research downgraded shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. BNP Paribas Exane started coverage on Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 target price for the company. BNP Paribas initiated coverage on Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price for the company. Morgan Stanley upped their price target on Analog Devices from $273.00 to $288.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Finally, Benchmark increased their price target on Analog Devices from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $281.20.

Analog Devices 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.