Cambridge Investment Research Advisors Inc. Sells 2,664 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Cambridge Investment Research Advisors Inc. reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,587 shares of the semiconductor company’s stock after selling 2,664 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Analog Devices were worth $7,984,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADI. Brighton Jones LLC grew its stake in shares of Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after acquiring an additional 529 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Analog Devices during the fourth quarter worth $1,068,000. IFP Advisors Inc grew its position in Analog Devices by 9.6% in the fourth quarter. IFP Advisors Inc now owns 2,469 shares of the semiconductor company’s stock valued at $525,000 after purchasing an additional 216 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its position in Analog Devices by 12.0% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 8,603 shares of the semiconductor company’s stock valued at $1,828,000 after purchasing an additional 923 shares in the last quarter. Finally, FourThought Financial Partners LLC acquired a new stake in Analog Devices in the 4th quarter valued at $595,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Down 0.1%

Analog Devices stock opened at $234.68 on Thursday. The company’s 50-day moving average price is $212.88 and its two-hundred day moving average price is $211.48. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The stock has a market cap of $116.46 billion, a P/E ratio of 63.95, a P/E/G ratio of 2.17 and a beta of 1.00. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share. As a group, analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices’s payout ratio is presently 107.90%.

Insider Activity at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred 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 sale, the director now owns 180,071 shares of the company’s stock, valued at $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 142,996 shares of the company’s stock, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,250 shares of company stock worth $3,143,556. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent research reports. Piper Sandler reduced their price objective on shares of Analog Devices from $240.00 to $215.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Morgan Stanley reduced their price target on Analog Devices from $214.00 to $212.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. KGI Securities assumed coverage on Analog Devices in a research note on Friday, May 23rd. They issued a “buy” rating for the company. Williams Trading set a $260.00 price objective on Analog Devices in a research note on Friday, May 23rd. Finally, Benchmark reissued a “buy” rating and issued a $260.00 price objective (down previously from $275.00) 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $251.75.

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.