Commonwealth Equity Services LLC Sells 7,109 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Commonwealth Equity Services LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 297,761 shares of the semiconductor company’s stock after selling 7,109 shares during the period. Commonwealth Equity Services LLC owned 0.06% of Analog Devices worth $67,967,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADI. USA Financial Formulas raised its holdings in Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of Analog Devices in the 4th quarter valued at $29,000. New Millennium Group LLC bought a new position in shares of Analog Devices during the 2nd quarter worth about $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices during the 1st quarter valued at about $30,000. Finally, ORG Partners LLC increased its stake in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Up 1.7 %

Shares of ADI traded up $3.95 during midday trading on Friday, hitting $234.84. The stock had a trading volume of 2,771,051 shares, compared to its average volume of 3,366,937. The firm has a market cap of $116.53 billion, a price-to-earnings ratio of 54.87, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08. The company has a 50 day simple moving average of $226.06 and a two-hundred day simple moving average of $212.60. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the company earned $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. On average, analysts anticipate that Analog Devices, Inc. will post 6.24 EPS for the current 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 $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s payout ratio is presently 85.98%.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,107 shares of company stock valued at $9,014,710. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADI has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. KeyCorp upped their price target on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America cut their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, TD Cowen increased their target price on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $251.45.

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.