Kovitz Investment Group Partners LLC Trims Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Kovitz Investment Group Partners LLC lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 96.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 57,170 shares of the semiconductor company’s stock after selling 1,523,987 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Analog Devices were worth $11,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. Orion Capital Management LLC purchased a new stake in Analog Devices in the fourth quarter valued at approximately $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices in the fourth quarter valued at approximately $27,000. Alpine Bank Wealth Management purchased a new stake in Analog Devices in the first quarter valued at approximately $27,000. N.E.W. Advisory Services LLC purchased a new stake in Analog Devices in the first quarter valued at approximately $33,000. Finally, North Capital Inc. purchased a new stake in Analog Devices in the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 1.9%

Analog Devices stock opened at $231.63 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. The firm has a market capitalization of $114.95 billion, a price-to-earnings ratio of 63.11, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.73. The stock’s fifty day moving average is $233.70 and its two-hundred day moving average is $216.24.

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

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, June 4th. Analog Devices’s dividend payout ratio is currently 107.90%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ADI shares. Keefe, Bruyette & Woods raised Analog Devices to an “outperform” rating in a report on Wednesday, June 18th. Citigroup reissued a “buy” rating and issued a $290.00 target price (up previously from $260.00) on shares of Analog Devices in a report on Monday, July 7th. Noble Financial raised Analog Devices to an “outperform” rating in a report on Wednesday, June 18th. The Goldman Sachs Group started coverage on Analog Devices in a report on Thursday, July 10th. They issued a “buy” rating and a $285.00 target price on the stock. Finally, Benchmark reissued a “buy” rating and issued a $260.00 target price (down previously from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $258.89.

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.