Amalgamated Bank Lowers Position in Analog Devices, Inc. (NASDAQ:ADI)

Amalgamated Bank cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,176 shares of the semiconductor company’s stock after selling 2,322 shares during the quarter. Amalgamated Bank’s holdings in Analog Devices were worth $22,866,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ADI. Vanguard Group Inc. boosted its holdings in shares of Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after buying an additional 2,160,668 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 valued at $1,614,735,000 after buying an additional 1,330,242 shares in the last quarter. Capital International Investors boosted its holdings in shares of Analog Devices by 14.3% in the 1st 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 in the last quarter. American Century Companies Inc. boosted its holdings in shares of Analog Devices by 21.4% in the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after buying an additional 767,534 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Analog Devices by 9.8% in the 2nd quarter. Van ECK Associates Corp now owns 4,053,897 shares of the semiconductor company’s stock valued at $925,342,000 after buying an additional 362,874 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,570,541.30. The disclosure for this sale can be found here. Insiders have sold a total of 31,495 shares of company stock valued at $7,181,458 in the last 90 days. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Susquehanna raised their price target on shares of Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a report on Thursday, May 23rd. The Goldman Sachs Group increased their price objective on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Bank of America decreased their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Robert W. Baird increased their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.45.

Analog Devices Price Performance

NASDAQ:ADI opened at $225.35 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm has a market cap of $111.82 billion, a price-to-earnings ratio of 52.65, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07. The company has a 50 day moving average price of $224.35 and a 200-day moving average price of $215.68. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its 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 firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.49 EPS. Equities research analysts forecast that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.63%. Analog Devices’s dividend payout ratio is currently 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.