Graypoint LLC Sells 496 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Graypoint LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,571 shares of the semiconductor company’s stock after selling 496 shares during the period. Graypoint LLC’s holdings in Analog Devices were worth $922,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Cullen Frost Bankers Inc. lifted its position in shares of Analog Devices by 0.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 80,591 shares of the semiconductor company’s stock worth $16,253,000 after purchasing an additional 677 shares during the period. Bridgewater Advisors Inc. purchased a new position in shares of Analog Devices in the 1st quarter worth approximately $333,000. Midwest Professional Planners LTD. increased its holdings in shares of Analog Devices by 0.9% during the 1st quarter. Midwest Professional Planners LTD. now owns 9,384 shares of the semiconductor company’s stock valued at $1,892,000 after purchasing an additional 88 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Analog Devices by 394.9% during the first quarter. Larson Financial Group LLC now owns 2,801 shares of the semiconductor company’s stock worth $565,000 after buying an additional 2,235 shares in the last quarter. Finally, Wealthfront Advisers LLC grew its holdings in shares of Analog Devices by 3.8% in the first quarter. Wealthfront Advisers LLC now owns 50,476 shares of the semiconductor company’s stock valued at $10,179,000 after purchasing an additional 1,826 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

NASDAQ ADI opened at $240.97 on Friday. The firm has a market capitalization of $119.58 billion, a price-to-earnings ratio of 65.66, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02. The company has a 50 day simple moving average of $229.40 and a 200-day simple moving average of $214.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.73.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business posted $1.40 EPS. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. Equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.64%. Analog Devices’s dividend payout ratio (DPR) is 107.90%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of Analog Devices to a “strong sell” rating in a research report on Wednesday, April 30th. Cfra Research lowered Analog Devices from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, May 22nd. Cowen restated a “buy” rating on shares of Analog Devices in a research report on Friday, May 23rd. The Goldman Sachs Group began coverage on Analog Devices in a research report on Thursday, July 10th. They issued a “buy” rating and a $285.00 price target on the stock. Finally, KGI Securities assumed coverage on Analog Devices in a research note on Friday, May 23rd. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $257.67.

Insider Activity at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the transaction, the director owned 180,071 shares in the company, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer directly owned 142,996 shares of the company’s stock, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

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.