Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 117,378 shares of the semiconductor company’s stock after selling 1,267 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Analog Devices were worth $23,672,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ADI. Orion Capital Management LLC purchased a new position in shares of Analog Devices during the 4th quarter worth about $27,000. Menard Financial Group LLC purchased a new position in Analog Devices during the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC purchased a new position in Analog Devices during the fourth quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices in the 4th quarter valued at $30,000. Finally, Cassady Schiller Wealth Management LLC grew its stake 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 buying an additional 55 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This trade represents a 7.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,934 shares of company stock valued at $6,643,956 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 0.3%

Shares of NASDAQ ADI opened at $232.54 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The stock’s 50-day simple moving average is $202.55 and its 200-day simple moving average is $210.69. The firm has a market cap of $115.40 billion, a price-to-earnings ratio of 74.06, a PEG ratio of 2.85 and a beta of 1.00.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating 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 firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm earned $1.40 EPS. Analog Devices’s quarterly revenue was up 22.3% on a year-over-year basis. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.70%. Analog Devices’s dividend payout ratio (DPR) is presently 107.90%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ADI. Citigroup increased their target price on Analog Devices from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Morgan Stanley cut their price objective on Analog Devices from $214.00 to $212.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Wells Fargo & Company reissued a “positive” rating on shares of Analog Devices in a research report on Friday, May 23rd. TD Cowen raised their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, Oppenheimer lifted their price target on shares of Analog Devices from $225.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $248.63.

About Analog Devices

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.