Analog Devices, Inc. (NASDAQ:ADI) Stake Cut by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,852,308 shares of the semiconductor company’s stock after selling 14,851 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.37% of Analog Devices worth $366,368,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. increased its position in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares during the period. USA Financial Formulas increased its position in Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after buying an additional 65 shares during the period. Silver Oak Securities Incorporated acquired a new stake in Analog Devices in the third quarter worth $29,000. Cetera Trust Company N.A acquired a new stake in Analog Devices in the fourth quarter worth $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in Analog Devices in the fourth quarter worth $29,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Down 0.1 %

Shares of NASDAQ:ADI traded down $0.28 during midday trading on Wednesday, reaching $227.96. The company had a trading volume of 140,686 shares, compared to its average volume of 3,299,646. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $241.88. The firm has a market cap of $113.12 billion, a price-to-earnings ratio of 53.33, a price-to-earnings-growth ratio of 3.85 and a beta of 1.08. The company has a fifty day simple moving average of $220.91 and a two-hundred day simple moving average of $202.90.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company posted $2.83 EPS. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.61%. Analog Devices’s payout ratio is presently 85.98%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley raised their price target on Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Jefferies Financial Group assumed coverage on Analog Devices in a report on Monday, May 13th. They set a “buy” rating and a $250.00 price target on the stock. The Goldman Sachs Group raised their price target on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Stifel Nicolaus raised their price target on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. raised their price target on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $243.23.

Insiders Place Their Bets

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Michael Sondel sold 4,830 shares of Analog Devices stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the completion of the sale, the chief accounting officer now directly owns 10,547 shares in the company, valued at approximately $2,495,209.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,121 shares of company stock worth $11,168,654. 0.31% of the stock is currently owned by company 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.