Bell Bank Has $1.06 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Bell Bank cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 23.9% in the 1st quarter, HoldingsChannel reports. The fund owned 5,266 shares of the semiconductor company’s stock after selling 1,658 shares during the quarter. Bell Bank’s holdings in Analog Devices were worth $1,062,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Orion Capital Management LLC acquired a new position in Analog Devices during the fourth quarter valued at approximately $27,000. Menard Financial Group LLC acquired a new position in Analog Devices during the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new position in Analog Devices during the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new position in Analog Devices during the fourth quarter valued at approximately $30,000. Finally, Cassady Schiller Wealth Management LLC raised its position in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of ADI opened at $231.80 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $115.03 billion, a P/E ratio of 73.82, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. The firm’s fifty day simple moving average is $206.26 and its two-hundred day simple moving average is $210.80. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10.

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

Analog Devices announced that its board has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Announces Dividend

The business 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 dividend of $0.99 per share. 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 1.71%. Analog Devices’s dividend payout ratio (DPR) is presently 107.90%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the transaction, the chief executive officer now owns 142,996 shares of the company’s stock, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was 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 owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,934 shares of company stock valued at $6,643,956 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on ADI shares. TD Cowen upped their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Barclays upped their price target on shares of Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Evercore ISI boosted their price objective on shares of Analog Devices from $231.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, May 23rd. Stifel Nicolaus boosted their price objective on shares of Analog Devices from $225.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $250.50.

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.