Gateway Investment Advisers LLC Sells 7,283 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Gateway Investment Advisers LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 138,384 shares of the semiconductor company’s stock after selling 7,283 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Analog Devices were worth $27,371,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in Analog Devices in the 1st quarter worth $69,000. Royal Fund Management LLC lifted its stake in Analog Devices by 7.5% in the 1st quarter. Royal Fund Management LLC now owns 7,334 shares of the semiconductor company’s stock worth $1,451,000 after purchasing an additional 512 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in Analog Devices by 17.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,647 shares of the semiconductor company’s stock worth $326,000 after purchasing an additional 239 shares in the last quarter. &PARTNERS purchased a new stake in Analog Devices in the 1st quarter worth $1,109,000. Finally, Running Oak Capital LLC raised its position in shares of Analog Devices by 12.4% during the 1st quarter. Running Oak Capital LLC now owns 53,655 shares of the semiconductor company’s stock valued at $10,612,000 after buying an additional 5,938 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $10,075,098.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $10,075,098.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction dated 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 completion of 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. Over the last ninety days, insiders sold 50,121 shares of company stock valued at $10,875,654. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent research reports. Truist Financial upped their target price on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Citigroup upped their target price on shares of Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Robert W. Baird upped their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Stifel Nicolaus upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a report on Monday, May 20th. Finally, Sanford C. Bernstein upped 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. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.23.

View Our Latest Analysis on ADI

Analog Devices Stock Performance

Shares of ADI traded up $1.63 during trading hours on Tuesday, reaching $230.09. 460,926 shares of the company traded hands, compared to its average volume of 3,341,574. The stock has a market capitalization of $114.18 billion, a P/E ratio of 53.38, a P/E/G ratio of 3.90 and a beta of 1.12. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average price of $216.90 and a 200-day moving average price of $201.63. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $241.88.

Analog Devices (NASDAQ:ADIGet Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm earned $2.83 EPS. The business’s revenue for the quarter was down 33.8% on a year-over-year basis. Equities analysts anticipate that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio is currently 85.98%.

About Analog Devices

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADIFree Report).

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.