North Star Asset Management Inc. Sells 1,043 Shares of Analog Devices, Inc. (NASDAQ:ADI)

North Star Asset Management Inc. cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,175 shares of the semiconductor company’s stock after selling 1,043 shares during the quarter. Analog Devices comprises 1.2% of North Star Asset Management Inc.’s investment portfolio, making the stock its 27th biggest holding. North Star Asset Management Inc.’s holdings in Analog Devices were worth $25,605,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Analog Devices by 8.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after purchasing an additional 1,197,215 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Norges Bank purchased a new position in shares of Analog Devices in the fourth quarter worth approximately $1,225,227,000. Finally, Capital International Investors increased its holdings in Analog Devices by 14.3% during the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after buying an additional 644,945 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADI. Barclays boosted their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, July 16th. Bank of America lowered their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. The Goldman Sachs Group increased their target price on shares of Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Sanford C. Bernstein lifted their price target on shares of Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $251.45.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The disclosure for this sale can be found here. Insiders sold 49,107 shares of company stock worth $11,301,610 in the last quarter. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

NASDAQ ADI opened at $213.64 on Friday. The stock has a market capitalization of $106.01 billion, a PE ratio of 49.92, a P/E/G ratio of 3.91 and a beta of 1.07. The business has a 50 day simple moving average of $225.39 and a two-hundred day simple moving average of $213.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.49 EPS. On average, research analysts predict that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

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.