Mn Services Vermogensbeheer B.V. Cuts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Mn Services Vermogensbeheer B.V. lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 196,193 shares of the semiconductor company’s stock after selling 4,500 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Analog Devices were worth $44,783,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Analog Devices by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after acquiring an additional 1,197,215 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Norges Bank bought a new position in shares of Analog Devices in the fourth quarter valued at approximately $1,225,227,000. Finally, Capital International Investors grew its stake in Analog Devices by 14.3% during the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after acquiring an additional 644,945 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders have sold a total of 41,812 shares of company stock worth $9,648,861 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 2.9 %

ADI stock traded up $6.48 during midday trading on Friday, hitting $228.39. The company’s stock had a trading volume of 3,208,020 shares, compared to its average volume of 3,378,589. The firm’s 50-day moving average is $226.33 and its 200-day moving average is $211.46. 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. The company has a market cap of $113.33 billion, a PE ratio of 53.36, a P/E/G ratio of 3.69 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the company posted $2.49 earnings per share. The company’s quarterly revenue was down 24.8% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.92 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. Analog Devices’s payout ratio is 85.98%.

Analyst Ratings Changes

Several brokerages have commented on ADI. Morgan Stanley raised their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, July 16th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday. Robert W. Baird lifted their target price on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Finally, Sanford C. Bernstein upped their price objective on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned 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 $245.64.

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.