2Xideas AG Has $18.19 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

2Xideas AG decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 20.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,958 shares of the semiconductor company’s stock after selling 23,131 shares during the quarter. Analog Devices accounts for approximately 2.2% of 2Xideas AG’s investment portfolio, making the stock its 13th biggest holding. 2Xideas AG’s holdings in Analog Devices were worth $18,188,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Interval Partners LP purchased a new stake in shares of Analog Devices in the first quarter valued at about $1,978,000. Benchmark Investment Advisors LLC grew its position in Analog Devices by 299.9% in the 1st quarter. Benchmark Investment Advisors LLC now owns 6,355 shares of the semiconductor company’s stock worth $1,257,000 after purchasing an additional 4,766 shares in the last quarter. Paloma Partners Management Co increased its stake in Analog Devices by 483.3% in the 1st quarter. Paloma Partners Management Co now owns 1,518 shares of the semiconductor company’s stock valued at $300,000 after buying an additional 1,914 shares during the last quarter. Ascent Group LLC lifted its position in shares of Analog Devices by 156.6% during the 1st quarter. Ascent Group LLC now owns 19,718 shares of the semiconductor company’s stock worth $3,900,000 after buying an additional 12,035 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its stake in shares of Analog Devices by 1.0% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 10,955 shares of the semiconductor company’s stock worth $2,167,000 after buying an additional 111 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on ADI shares. JPMorgan Chase & Co. lifted their price target on Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. TD Cowen raised their target price on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. UBS Group boosted their price target on shares of Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Morgan Stanley raised their price objective on shares of Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, Jefferies Financial Group began coverage on shares of Analog Devices in a research report on Monday, May 13th. They issued a “buy” rating and a $250.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $245.50.

Analog Devices Price Performance

Shares of NASDAQ ADI traded down $2.82 during midday trading on Tuesday, hitting $224.58. 3,949,918 shares of the company’s stock were exchanged, compared to its average volume of 3,298,367. The business’s fifty day moving average price is $232.37 and its two-hundred day moving average price is $208.56. The company has a market cap of $111.44 billion, a price-to-earnings ratio of 52.47, a PEG ratio of 3.82 and a beta of 1.08. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. The business’s quarterly revenue was down 33.8% on a year-over-year basis. During the same quarter last year, the company posted $2.83 EPS. As a group, research analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.64%. Analog Devices’s dividend payout ratio is 85.98%.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices 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 transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Insiders sold 46,642 shares of company stock worth $10,481,343 in the last quarter. 0.31% of the stock is owned by 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.