Campbell Newman Asset Management Inc. Sells 70,487 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Campbell Newman Asset Management Inc. reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 35.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 128,955 shares of the semiconductor company’s stock after selling 70,487 shares during the quarter. Analog Devices accounts for about 2.2% of Campbell Newman Asset Management Inc.’s holdings, making the stock its 19th biggest holding. Campbell Newman Asset Management Inc.’s holdings in Analog Devices were worth $26,006,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. CVA Family Office LLC increased its holdings in Analog Devices by 51.0% in the 1st quarter. CVA Family Office LLC now owns 394 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 133 shares in the last quarter. Everhart Financial Group Inc. increased its stake in shares of Analog Devices by 29.3% in the first quarter. Everhart Financial Group Inc. now owns 4,116 shares of the semiconductor company’s stock valued at $830,000 after buying an additional 933 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of Analog Devices by 2.0% in the first quarter. NorthCrest Asset Manangement LLC now owns 109,322 shares of the semiconductor company’s stock valued at $22,047,000 after buying an additional 2,121 shares during the period. Union Bancaire Privee UBP SA increased its stake in shares of Analog Devices by 20.6% in the first quarter. Union Bancaire Privee UBP SA now owns 9,587 shares of the semiconductor company’s stock valued at $1,919,000 after buying an additional 1,638 shares during the period. Finally, apricus wealth LLC increased its stake in shares of Analog Devices by 17.0% in the first quarter. apricus wealth LLC now owns 1,383 shares of the semiconductor company’s stock valued at $279,000 after buying an additional 201 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Insider Activity at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’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 completion of the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This represents a 7.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,934 shares of company stock valued at $6,643,956. Company insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Analog Devices stock opened at $225.03 on Friday. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The business has a fifty day moving average price of $204.95 and a 200-day moving average price of $210.79. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm has a market capitalization of $111.67 billion, a P/E ratio of 71.67, a PEG ratio of 2.85 and a beta of 1.00.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results 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 firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $1.40 earnings per share. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its board has approved a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices’s dividend payout ratio is 107.90%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ADI. JPMorgan Chase & Co. upped their target price on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Wells Fargo & Company restated a “positive” rating on shares of Analog Devices in a research report on Friday, May 23rd. Truist Financial upped their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Seaport Res Ptn upgraded Analog Devices to a “strong sell” rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley cut their target price on Analog Devices from $214.00 to $212.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.