Swedbank AB Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Swedbank AB cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,713,239 shares of the semiconductor company’s stock after selling 2,630 shares during the quarter. Analog Devices comprises approximately 0.8% of Swedbank AB’s investment portfolio, making the stock its 25th biggest position. Swedbank AB owned about 0.55% of Analog Devices worth $619,324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Analog Devices by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after acquiring an additional 21,522 shares during the last quarter. Point72 Italy S.r.l. acquired a new stake in shares of Analog Devices during the 4th quarter worth about $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Analog Devices during the 4th quarter worth about $850,000. Capital International Investors increased its position in shares of Analog Devices by 5.8% during the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after purchasing an additional 246,799 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Analog Devices by 4.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after purchasing an additional 4,516 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the sale, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Michael Sondel sold 4,830 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the transaction, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,642 shares of company stock valued at $10,791,543. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ADI shares. Oppenheimer raised their price objective on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Morgan Stanley lifted their target price on Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Jefferies Financial Group initiated coverage on Analog Devices in a research report on Monday, May 13th. They issued a “buy” rating and a $250.00 target price for the company. The Goldman Sachs Group lifted their target price on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Citigroup lifted their target price on Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $245.50.

Analog Devices Stock Performance

Shares of Analog Devices stock traded down $0.48 during trading hours on Friday, hitting $223.19. 2,573,626 shares of the company were exchanged, compared to its average volume of 3,363,309. The business has a 50-day moving average of $227.52 and a 200-day moving average of $210.00. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $110.75 billion, a price-to-earnings ratio of 52.26, a P/E/G ratio of 3.69 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the business posted $2.83 earnings per share. The business’s revenue was down 33.8% compared to the same quarter last year. As a group, analysts expect that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

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.