Wilkinson Global Asset Management LLC Lowers Stake in Analog Devices, Inc. (NASDAQ:ADI)

Wilkinson Global Asset Management LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,398 shares of the semiconductor company’s stock after selling 6,967 shares during the period. Analog Devices accounts for about 2.9% of Wilkinson Global Asset Management LLC’s portfolio, making the stock its 16th largest position. Wilkinson Global Asset Management LLC’s holdings in Analog Devices were worth $46,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. Baader Bank Aktiengesellschaft increased its position in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after acquiring an additional 43 shares during the period. CVA Family Office LLC lifted its holdings in shares of Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares during the period. SouthState Corp lifted its holdings in shares of Analog Devices by 28.6% in the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock worth $51,000 after buying an additional 50 shares during the period. Tsfg LLC grew its position in shares of Analog Devices by 24.5% during the 2nd quarter. Tsfg LLC now owns 269 shares of the semiconductor company’s stock worth $61,000 after buying an additional 53 shares in the last quarter. Finally, Mcdonald Partners LLC increased its stake in shares of Analog Devices by 0.7% during the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock valued at $1,497,000 after buying an additional 54 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

ADI stock traded down $5.42 during midday trading on Friday, reaching $213.64. The stock had a trading volume of 3,437,085 shares, compared to its average volume of 3,368,705. The firm has a fifty day simple moving average of $225.39 and a two-hundred day simple moving average of $213.97. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock has a market cap of $106.01 billion, a PE ratio of 49.92, a P/E/G ratio of 3.91 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm 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 company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period last year, the business posted $2.49 earnings per share. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders have sold 49,107 shares of company stock worth $11,301,610 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ADI has been the topic of several recent research reports. Stifel Nicolaus increased their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Susquehanna lifted their price objective 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. Barclays upped their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Morgan Stanley lifted their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, TD Cowen raised their price objective on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $251.45.

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.