New York Life Investment Management LLC Trims Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

New York Life Investment Management LLC decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 74,769 shares of the semiconductor company’s stock after selling 501 shares during the quarter. New York Life Investment Management LLC’s holdings in Analog Devices were worth $17,067,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Analog Devices by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after buying an additional 21,522 shares during the last quarter. Point72 Italy S.r.l. acquired a new position in shares of Analog Devices during the fourth quarter worth about $6,367,000. Grayhawk Investment Strategies Inc. purchased a new position in Analog Devices during the fourth quarter worth about $850,000. Capital International Investors lifted its position in Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after purchasing an additional 246,799 shares during the period. Finally, Bradley Foster & Sargent Inc. CT boosted its holdings in Analog Devices by 1,055.6% in 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 purchasing an additional 208,522 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of analyst reports. Robert W. Baird increased their target price on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Jefferies Financial Group began coverage on shares of Analog Devices in a research report on Monday, May 13th. They set a “buy” rating and a $250.00 target price on the stock. Citigroup increased their price target on shares of Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, TD Cowen increased their target price on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $251.45.

Analog Devices Trading Down 2.5 %

Shares of ADI opened at $213.64 on Friday. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The company has a market capitalization of $106.01 billion, a PE ratio of 49.92, a price-to-earnings-growth ratio of 3.91 and a beta of 1.07. The stock has a fifty day moving average of $225.39 and a two-hundred day moving average of $213.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

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

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.92 dividend. 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 dividend payout ratio (DPR) is presently 85.98%.

Insider Activity

In other news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. The disclosure for this sale can be found here. Insiders sold 49,107 shares of company stock valued at $11,301,610 in the last ninety days. Company 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.