Johnson Investment Counsel Inc. Sells 2,617 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Johnson Investment Counsel Inc. decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.6% during the first quarter, HoldingsChannel reports. The fund owned 424,367 shares of the semiconductor company’s stock after selling 2,617 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Analog Devices were worth $85,582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ADI. Midwest Professional Planners LTD. lifted its stake in shares of Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after acquiring an additional 53 shares during the last quarter. Portland Global Advisors LLC increased its stake in Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock worth $853,000 after purchasing an additional 53 shares during the period. Cassady Schiller Wealth Management LLC lifted its position in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Analog Devices by 1.3% during the fourth quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company’s stock valued at $1,114,000 after purchasing an additional 65 shares during the period. Finally, Missouri Trust & Investment Co grew its holdings in shares of Analog Devices by 33.0% in the first quarter. Missouri Trust & Investment Co now owns 266 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ADI shares. JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Citigroup raised their target price on shares of Analog Devices from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Stifel Nicolaus boosted their price target on Analog Devices from $225.00 to $248.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Cowen restated a “buy” rating on shares of Analog Devices in a report on Friday, May 23rd. Finally, TD Cowen upped their target price on Analog Devices from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $251.75.

Analog Devices Stock Performance

ADI stock opened at $229.65 on Thursday. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The firm has a market cap of $113.96 billion, a price-to-earnings ratio of 62.58, a PEG ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. The firm has a 50-day simple moving average of $207.54 and a two-hundred day simple moving average of $211.05.

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 the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business posted $1.40 EPS. Analog Devices’s revenue was up 22.3% on a year-over-year basis. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.72%. Analog Devices’s dividend payout ratio is presently 107.90%.

Insider Activity

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now owns 186,321 shares of the company’s stock, valued at $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,934 shares of company stock worth $5,807,196. Insiders own 0.33% of the company’s stock.

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.