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

Boston Partners reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 539,011 shares of the semiconductor company’s stock after selling 13,018 shares during the period. Boston Partners owned 0.11% of Analog Devices worth $106,628,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Amarillo National Bank boosted its stake in shares of Analog Devices by 3.7% during the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock worth $300,000 after acquiring an additional 54 shares during the period. Mcdonald Partners LLC lifted its stake in shares of Analog Devices by 0.7% during the 1st quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock worth $1,497,000 after buying an additional 54 shares during the last quarter. Keystone Financial Services boosted its holdings in shares of Analog Devices by 1.8% during the 4th quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock worth $623,000 after buying an additional 55 shares during the period. Signaturefd LLC grew its stake in Analog Devices by 0.5% in the 1st quarter. Signaturefd LLC now owns 11,003 shares of the semiconductor company’s stock valued at $2,176,000 after buying an additional 59 shares during the last quarter. Finally, Wealth Alliance lifted its position in Analog Devices by 3.6% during the fourth quarter. Wealth Alliance now owns 1,769 shares of the semiconductor company’s stock worth $351,000 after acquiring an additional 61 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on ADI shares. Susquehanna lifted their price objective on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price target on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a research note 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 stock a “buy” rating in a research note on Thursday, May 23rd. KeyCorp upped their price target on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, Truist Financial lifted their price objective on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $245.50.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded down $10.96 on Friday, hitting $207.96. The company’s stock had a trading volume of 6,796,683 shares, compared to its average volume of 3,382,127. The company has a market capitalization of $103.19 billion, a PE ratio of 48.59, a PEG ratio of 3.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The company has a 50-day simple moving average of $231.39 and a 200 day simple moving average of $208.92. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14.

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

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s payout ratio is 85.98%.

Insider Activity

In other news, CAO Michael Sondel sold 4,830 shares of the business’s 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 transaction, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the firm’s stock in a transaction 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 owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Champy sold 4,200 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total transaction of $980,910.00. Following the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,487,947.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,642 shares of company stock valued at $8,510,743. Insiders own 0.31% of the company’s stock.

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.