Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 74,445 shares of the semiconductor company’s stock after selling 1,437 shares during the period. Cullen Frost Bankers Inc.’s holdings in Analog Devices were worth $16,993,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Analog Devices by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after purchasing an additional 21,522 shares in the last quarter. Point72 Italy S.r.l. bought a new position in Analog Devices during the 4th quarter valued at $6,367,000. Grayhawk Investment Strategies Inc. bought a new position in Analog Devices during the fourth quarter valued at about $850,000. Capital International Investors raised its holdings in shares of Analog Devices by 5.8% in the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after purchasing an additional 246,799 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its position in shares of Analog Devices by 1,055.6% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock valued at $45,326,000 after acquiring an additional 208,522 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of ADI stock traded down $5.42 during mid-day 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’s 50 day simple moving average is $225.39 and its 200 day simple moving average is $213.80. 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 firm 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, Inc. has a one year low of $154.99 and a one year high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 earnings per share. On average, analysts forecast that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.72%. Analog Devices’s payout ratio is presently 85.98%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,672,108.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,107 shares of company stock valued at $11,301,610. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Robert W. Baird raised their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Citigroup upped their price target on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Bank of America reduced their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.