Primecap Management Co. CA Sells 25,860 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Primecap Management Co. CA lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,602,310 shares of the semiconductor company’s stock after selling 25,860 shares during the quarter. Primecap Management Co. CA’s holdings in Analog Devices were worth $822,263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in Analog Devices in the 2nd quarter worth approximately $29,000. Riverview Trust Co bought a new stake in Analog Devices in the 1st quarter worth approximately $30,000. ORG Partners LLC increased its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares during the last quarter. CVA Family Office LLC increased its stake in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Analog Devices in the 2nd quarter worth approximately $37,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of ADI stock opened at $223.28 on Tuesday. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The stock has a market capitalization of $110.80 billion, a price-to-earnings ratio of 52.17, a P/E/G ratio of 3.74 and a beta of 1.07. The stock has a fifty day simple moving average of $224.49 and a two-hundred day simple moving average of $215.47. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the business earned $2.49 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, analysts predict that Analog Devices, Inc. will post 6.33 EPS 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. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

Wall Street Analyst Weigh In

ADI has been the topic of a number of research reports. UBS Group lifted their price objective on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Barclays boosted their target price on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Sanford C. Bernstein boosted their target price on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. KeyCorp boosted their target price on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Finally, Robert W. Baird boosted their target price on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $251.45.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the sale, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The disclosure for this sale can be found here. Insiders have sold a total of 31,495 shares of company stock valued at $7,181,458 over the last quarter. 0.31% of the stock is owned by corporate 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.