Avalon Trust Co Sells 570 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Avalon Trust Co reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,278 shares of the semiconductor company’s stock after selling 570 shares during the period. Avalon Trust Co’s holdings in Analog Devices were worth $5,098,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its stake in Analog Devices by 284.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company’s stock worth $6,262,000 after purchasing an additional 22,973 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Analog Devices in the 4th quarter worth approximately $10,212,000. Sowell Financial Services LLC acquired a new stake in Analog Devices in the 1st quarter worth approximately $296,000. Keybank National Association OH boosted its stake in Analog Devices by 85.8% in the 1st quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company’s stock worth $5,461,000 after purchasing an additional 12,505 shares in the last quarter. Finally, Eastern Bank boosted its stake in Analog Devices by 6.0% in the 1st quarter. Eastern Bank now owns 196,677 shares of the semiconductor company’s stock worth $39,664,000 after purchasing an additional 11,101 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Down 1.3%

NASDAQ ADI opened at $221.71 on Friday. The firm’s 50-day moving average is $231.54 and its two-hundred day moving average is $215.64. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The stock has a market capitalization of $110.02 billion, a P/E ratio of 60.41, a PEG ratio of 2.04 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. Analog Devices’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.8%. Analog Devices’s dividend payout ratio is 107.90%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ADI shares. KeyCorp raised their price target on shares of Analog Devices from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Friday, May 23rd. Barclays raised their price target on shares of Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Friday, May 23rd. Oppenheimer raised their price target on shares of Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Finally, Raymond James Financial raised shares of Analog Devices from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, June 18th. Six research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.89.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the sale, the director directly owned 167,571 shares in the company, valued at approximately $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

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.