Rhumbline Advisers Sells 10,296 Shares of Analog Devices, Inc. $ADI

Rhumbline Advisers lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 911,517 shares of the semiconductor company’s stock after selling 10,296 shares during the quarter. Rhumbline Advisers owned 0.19% of Analog Devices worth $223,960,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Howard Hughes Medical Institute acquired a new stake in shares of Analog Devices in the second quarter valued at about $25,000. Clayton Financial Group LLC purchased a new stake in shares of Analog Devices in the third quarter worth approximately $31,000. LFA Lugano Financial Advisors SA increased its stake in Analog Devices by 92.9% in the 3rd quarter. LFA Lugano Financial Advisors SA now owns 135 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 65 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Analog Devices during the 3rd quarter worth $38,000. Finally, Sound Income Strategies LLC lifted its stake in Analog Devices by 141.8% in the third quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 95 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Up 0.7%

Shares of NASDAQ ADI opened at $325.16 on Wednesday. The business has a 50-day moving average of $292.61 and a two-hundred day moving average of $258.77. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $327.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. The company has a market capitalization of $158.88 billion, a price-to-earnings ratio of 71.31, a price-to-earnings-growth ratio of 1.75 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the firm earned $1.67 EPS. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s payout ratio is presently 86.84%.

Insiders Place Their Bets

In other Analog Devices news, CAO Michael Sondel sold 8,169 shares of Analog Devices stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the transaction, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at approximately $5,258,381.39. This trade represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $306.92, for a total value of $3,069,200.00. Following the sale, the chief executive officer owned 155,688 shares in the company, valued at approximately $47,783,760.96. This trade represents a 6.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 53,544 shares of company stock valued at $15,320,417. 0.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on ADI shares. Benchmark reissued a “buy” rating and issued a $285.00 price target on shares of Analog Devices in a report on Wednesday, November 26th. Morgan Stanley restated an “overweight” rating and set a $314.00 price objective on shares of Analog Devices in a research note on Friday, January 16th. Wall Street Zen upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Citigroup boosted their price target on shares of Analog Devices from $290.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Finally, Bank of America lifted their price target on shares of Analog Devices from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $314.22.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.