L. Roy Papp & Associates LLP Trims Stake in Analog Devices, Inc. (NASDAQ:ADI)

L. Roy Papp & Associates LLP reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,325 shares of the semiconductor company’s stock after selling 56 shares during the quarter. Analog Devices comprises about 1.0% of L. Roy Papp & Associates LLP’s portfolio, making the stock its 27th biggest position. L. Roy Papp & Associates LLP’s holdings in Analog Devices were worth $8,361,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADI. Vanguard Group Inc. increased its holdings in shares of Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the period. Capital International Investors increased its holdings in shares of Analog Devices by 14.3% in the 1st quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after acquiring an additional 644,945 shares during the period. American Century Companies Inc. increased its holdings in shares of Analog Devices by 21.4% in the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after acquiring an additional 767,534 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Analog Devices by 5.3% in the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock valued at $963,788,000 after acquiring an additional 211,202 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of ADI traded up $0.49 during mid-day trading on Friday, reaching $230.17. The company had a trading volume of 1,733,471 shares, compared to its average volume of 3,223,514. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. 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 stock has a market capitalization of $114.21 billion, a P/E ratio of 53.78, a PEG ratio of 3.87 and a beta of 1.07. The stock has a 50 day moving average of $226.85 and a two-hundred day moving average of $222.11.

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 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 for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.49 earnings per share. On average, analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.60%. Analog Devices’s dividend payout ratio is currently 85.98%.

Wall Street Analyst Weigh In

ADI has been the topic of a number of analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. boosted their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Barclays boosted their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.80.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at $18,106,760.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,495 shares of company stock worth $20,794,658. 0.31% of the stock is owned by corporate insiders.

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.