Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,549 shares of the semiconductor company’s stock after selling 331 shares during the period. Gateway Investment Advisers LLC’s holdings in Analog Devices were worth $26,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Orion Capital Management LLC acquired a new position in shares of Analog Devices in the fourth quarter worth about $27,000. Menard Financial Group LLC purchased a new position in Analog Devices during the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the 4th quarter valued at $30,000. Finally, Cassady Schiller Wealth Management LLC grew its holdings in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and set a $260.00 price objective (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. TD Cowen upped their target price on Analog Devices from $200.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Cantor Fitzgerald lifted their price target on Analog Devices from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Citigroup boosted their price target on Analog Devices from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Finally, Seaport Res Ptn raised shares of Analog Devices to a “strong sell” rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $248.63.

Insider Transactions at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. The trade was a 7.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares of the company’s stock, valued at approximately $33,576,907.41. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,934 shares of company stock worth $8,735,156. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Up 1.9%

Analog Devices stock opened at $222.26 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The firm has a fifty day moving average price of $199.58 and a two-hundred day moving average price of $210.32. The firm has a market cap of $110.30 billion, a price-to-earnings ratio of 70.78, a P/E/G ratio of 2.85 and a beta of 1.00.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company posted $1.40 earnings per share. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.78%. Analog Devices’s dividend payout ratio is 107.90%.

Analog Devices announced that its board has authorized a share buyback plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.