Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.1% during the first quarter, HoldingsChannel reports. The firm owned 260,705 shares of the semiconductor company’s stock after selling 338 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Analog Devices were worth $52,576,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ADI. Brighton Jones LLC boosted its holdings in Analog Devices by 39.5% during the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after buying an additional 529 shares in the last quarter. Pinnacle Financial Partners Inc boosted its holdings in Analog Devices by 10.9% during the fourth quarter. Pinnacle Financial Partners Inc now owns 4,380 shares of the semiconductor company’s stock worth $936,000 after buying an additional 432 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Analog Devices by 9.5% during the fourth quarter. First Horizon Advisors Inc. now owns 5,337 shares of the semiconductor company’s stock worth $1,134,000 after buying an additional 463 shares in the last quarter. TCW Group Inc. boosted its holdings in Analog Devices by 4.4% during the fourth quarter. TCW Group Inc. now owns 16,109 shares of the semiconductor company’s stock worth $3,423,000 after buying an additional 673 shares in the last quarter. Finally, MONECO Advisors LLC boosted its holdings in Analog Devices by 16.5% during the fourth quarter. MONECO Advisors LLC now owns 2,120 shares of the semiconductor company’s stock worth $450,000 after buying an additional 301 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 142,996 shares of the company’s stock, valued at $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the transaction, the director now directly owns 180,071 shares in the company, valued at approximately $35,265,104.64. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock valued at $3,143,556 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ADI has been the topic of a number of research analyst reports. Wells Fargo & Company set a $235.00 price objective on shares of Analog Devices and gave the stock an “equal weight” rating in a report on Monday, June 16th. KGI Securities started coverage on shares of Analog Devices in a report on Friday, May 23rd. They issued a “buy” rating on the stock. Barclays upped their price target on shares of Analog Devices from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Friday, May 23rd. Wall Street Zen raised shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $251.75.

Analog Devices Price Performance

Shares of ADI opened at $230.98 on Tuesday. The firm has a market cap of $114.62 billion, a PE ratio of 62.94, a PEG ratio of 2.11 and a beta of 1.00. The firm’s 50 day moving average price is $210.60 and its 200 day moving average price is $211.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10.

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 the consensus estimate of $1.70 by $0.15. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 earnings per share. As a group, research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices’s dividend payout ratio is 107.90%.

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.