Wilkinson Global Asset Management LLC Decreases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Wilkinson Global Asset Management LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.3% in the second quarter, HoldingsChannel.com reports. The fund owned 203,398 shares of the semiconductor company’s stock after selling 6,967 shares during the period. Analog Devices makes up about 2.9% of Wilkinson Global Asset Management LLC’s investment portfolio, making the stock its 16th biggest position. Wilkinson Global Asset Management LLC’s holdings in Analog Devices were worth $46,428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Vanguard Group Inc. boosted its stake in shares of Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Analog Devices by 8.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after purchasing an additional 1,197,215 shares during the last quarter. Price T Rowe Associates Inc. MD grew 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 in the fourth quarter valued at about $1,225,227,000. Finally, Capital International Investors lifted its stake in shares of Analog Devices by 14.3% in 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 hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

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

Analog Devices Stock Down 2.5 %

Shares of NASDAQ:ADI traded down $5.42 during trading on Friday, hitting $213.64. The company’s stock had a trading volume of 3,437,085 shares, compared to its average volume of 3,368,705. The company has a market capitalization of $106.01 billion, a PE ratio of 49.92, a P/E/G ratio of 3.91 and a beta of 1.07. 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, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The business has a 50 day moving average price of $225.39 and a two-hundred day moving average price of $213.97.

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

Analog Devices Dividend Announcement

The company 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 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%.

Analyst Ratings Changes

A number of analysts have commented on ADI shares. KeyCorp increased their price objective on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Morgan Stanley boosted their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Jefferies Financial Group began coverage on Analog Devices in a research note on Monday, May 13th. They issued a “buy” rating and a $250.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Sanford C. Bernstein lifted their target price on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $251.45.

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.