SVB Wealth LLC Sells 12,393 Shares of Analog Devices, Inc. (NASDAQ:ADI)

SVB Wealth LLC trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 17.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,267 shares of the semiconductor company’s stock after selling 12,393 shares during the quarter. SVB Wealth LLC’s holdings in Analog Devices were worth $13,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after buying an additional 2,160,668 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Analog Devices by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after buying an additional 1,197,215 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after buying an additional 1,330,242 shares in the last quarter. Norges Bank acquired a new stake in shares of Analog Devices during the fourth quarter worth $1,225,227,000. Finally, Capital International Investors lifted its holdings in shares of Analog Devices by 14.3% during the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after buying an additional 644,945 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Gregory M. Bryant sold 17,612 shares of the firm’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 approximately $16,198,239.54. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value 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 approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders sold a total of 49,107 shares of company stock valued at $11,301,610 in the last ninety days. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, July 16th. Bank of America dropped their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Barclays boosted their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Robert W. Baird boosted their price target on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Finally, The Goldman Sachs Group boosted their price target on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Analog Devices Trading Down 2.5 %

ADI stock traded down $5.42 during trading on Friday, hitting $213.64. The company had a trading volume of 3,437,085 shares, compared to its average volume of 3,368,705. The business has a 50-day moving average of $225.39 and a 200-day moving average of $213.80. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The stock has a market cap of $106.01 billion, a PE ratio of 49.92, a PEG ratio of 3.91 and a beta of 1.07. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its 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. 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 for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business earned $2.49 EPS. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal 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 paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.72%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Analog Devices Company 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.