Boston Partners Sells 13,018 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Boston Partners decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 539,011 shares of the semiconductor company’s stock after selling 13,018 shares during the period. Boston Partners’ holdings in Analog Devices were worth $106,628,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. boosted its holdings in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas increased its stake in shares of Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 65 shares in the last quarter. Cetera Trust Company N.A bought a new position in shares of Analog Devices in the fourth quarter valued at about $29,000. Private Wealth Management Group LLC acquired a new position in Analog Devices during the 4th quarter worth about $29,000. Finally, Riverview Trust Co bought a new stake in Analog Devices during the 1st quarter worth about $30,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Michael Sondel sold 4,830 shares of Analog Devices stock in a transaction that occurred on 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 transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,642 shares of company stock valued at $8,510,743. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADI. TD Cowen upped their target price on shares of Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Jefferies Financial Group started coverage on Analog Devices in a report on Monday, May 13th. They issued a “buy” rating and a $250.00 price target on the stock. Truist Financial boosted their price objective on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Oppenheimer lifted their price target on shares of Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Finally, Citigroup lifted their target price on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

Analog Devices Stock Down 5.0 %

Shares of NASDAQ:ADI traded down $10.96 during mid-day trading on Friday, reaching $207.96. 6,796,683 shares of the stock were exchanged, compared to its average volume of 3,382,127. The stock’s 50 day simple moving average is $231.39 and its 200-day simple moving average is $208.92. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The company has a market cap of $103.19 billion, a P/E ratio of 48.59, a P/E/G ratio of 3.69 and a beta of 1.08. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business’s quarterly revenue was down 33.8% on a year-over-year basis. During the same period last year, the business earned $2.83 EPS. As a group, equities research analysts predict that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were paid 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 dividend yield of 1.77%. Analog Devices’s dividend payout ratio is 85.98%.

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.