Analog Devices, Inc. (NASDAQ:ADI) Position Cut by Absher Wealth Management LLC

Absher Wealth Management LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 15.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,600 shares of the semiconductor company’s stock after selling 25,055 shares during the quarter. Analog Devices accounts for 4.3% of Absher Wealth Management LLC’s holdings, making the stock its 4th largest holding. Absher Wealth Management LLC’s holdings in Analog Devices were worth $30,724,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ADI. USA Financial Formulas increased its holdings in shares of Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $29,000. New Millennium Group LLC acquired a new position in shares of Analog Devices in the 2nd quarter valued at $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices during the first quarter worth about $30,000. Finally, ORG Partners LLC grew its stake in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was 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 directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The disclosure for this sale can be found here. Insiders have sold 39,107 shares of company stock worth $9,014,710 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Analog Devices Price Performance

ADI opened at $218.71 on Wednesday. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The firm has a market cap of $108.59 billion, a price-to-earnings ratio of 51.10, a price-to-earnings-growth ratio of 3.91 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $225.95 and its 200 day moving average price is $213.53.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results 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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the business posted $2.49 earnings per share. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, sell-side analysts expect that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Dividend Announcement

The business 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 1.68%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADI. Jefferies Financial Group assumed coverage on shares of Analog Devices in a research report on Monday, May 13th. They issued a “buy” rating and a $250.00 price target for the company. Barclays increased their price target on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Citigroup boosted their target price on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley raised 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, The Goldman Sachs Group increased their price target on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently 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.