Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 31.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,462 shares of the semiconductor company’s stock after selling 11,649 shares during the quarter. Bessemer Group Inc.’s holdings in Analog Devices were worth $5,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Broderick Brian C boosted its holdings in Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock valued at $16,831,000 after purchasing an additional 2,017 shares in the last quarter. Freestone Grove Partners LP acquired a new position in Analog Devices in the fourth quarter valued at approximately $10,212,000. Sowell Financial Services LLC acquired a new position in Analog Devices in the first quarter valued at approximately $296,000. Dynamic Advisor Solutions LLC boosted its holdings in Analog Devices by 4.3% in the first quarter. Dynamic Advisor Solutions LLC now owns 6,072 shares of the semiconductor company’s stock valued at $1,224,000 after purchasing an additional 251 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in Analog Devices in the fourth quarter valued at approximately $906,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Price Performance

Analog Devices stock opened at $236.96 on Friday. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The business has a 50 day simple moving average of $215.31 and a 200-day simple moving average of $211.75. The stock has a market capitalization of $117.59 billion, a PE ratio of 64.57, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00.

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

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.67%. The ex-dividend date was Wednesday, June 4th. Analog Devices’s payout ratio is 107.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. UBS Group decreased their price objective on Analog Devices from $295.00 to $285.00 and set a “buy” rating for the company in a report on Friday, May 23rd. Evercore ISI increased their price objective on Analog Devices from $231.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, May 23rd. Cantor Fitzgerald raised Analog Devices from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $250.00 to $270.00 in a report on Wednesday, June 18th. Finally, Citigroup increased their price objective on Analog Devices from $235.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 19th. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $251.75.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was 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. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,250 shares of company stock worth $3,143,556. 0.33% of the stock is owned by corporate insiders.

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.