Madison Asset Management LLC Sells 27,491 Shares of Analog Devices, Inc. $ADI

Madison Asset Management LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 378,575 shares of the semiconductor company’s stock after selling 27,491 shares during the quarter. Madison Asset Management LLC owned 0.08% of Analog Devices worth $93,016,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Center for Financial Planning Inc. grew its holdings in shares of Analog Devices by 37.5% in the 3rd quarter. Center for Financial Planning Inc. now owns 2,437 shares of the semiconductor company’s stock valued at $599,000 after acquiring an additional 665 shares in the last quarter. Stratos Wealth Advisors LLC raised its holdings in Analog Devices by 3.6% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 3,668 shares of the semiconductor company’s stock valued at $901,000 after acquiring an additional 127 shares during the period. MQS Management LLC increased its position in Analog Devices by 127.3% during the 3rd quarter. MQS Management LLC now owns 2,180 shares of the semiconductor company’s stock worth $536,000 after buying an additional 1,221 shares during the period. Baader Bank Aktiengesellschaft increased its holdings in shares of Analog Devices by 14.8% during the third quarter. Baader Bank Aktiengesellschaft now owns 1,327 shares of the semiconductor company’s stock worth $305,000 after purchasing an additional 171 shares during the period. Finally, Wesbanco Bank Inc. increased its position in shares of Analog Devices by 1.5% in the third quarter. Wesbanco Bank Inc. now owns 8,513 shares of the semiconductor company’s stock worth $2,092,000 after purchasing an additional 127 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, SVP Martin Cotter sold 10,000 shares of Analog Devices stock in a transaction on Monday, January 5th. The shares were sold at an average price of $278.44, for a total transaction of $2,784,400.00. Following the transaction, the senior vice president owned 49,664 shares in the company, valued at approximately $13,828,444.16. The trade was a 16.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $317.30, for a total value of $991,562.50. Following the completion of the transaction, the director directly owned 123,821 shares in the company, valued at approximately $39,288,403.30. This represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 53,544 shares of company stock worth $15,320,417 in the last quarter. Company insiders own 0.36% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of several research analyst reports. Oppenheimer raised their price objective on Analog Devices from $265.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. KeyCorp raised their price target on shares of Analog Devices from $330.00 to $375.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Robert W. Baird lifted their target price on Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, November 26th. The Goldman Sachs Group restated a “buy” rating and issued a $300.00 target price on shares of Analog Devices in a research note on Tuesday, November 25th. Finally, Bank of America lifted their price objective on shares of Analog Devices from $320.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $314.22.

Analog Devices Stock Performance

ADI stock opened at $325.16 on Wednesday. The stock’s fifty day moving average price is $292.61 and its 200-day moving average price is $258.77. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $327.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. The company has a market cap of $158.88 billion, a P/E ratio of 71.31, a price-to-earnings-growth ratio of 1.75 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the business posted $1.67 earnings per share. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio is 86.84%.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.