Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Ossiam

Ossiam lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 75.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,843 shares of the semiconductor company’s stock after selling 82,126 shares during the period. Ossiam’s holdings in Analog Devices were worth $5,309,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ADI. Meritage Group LP grew its stake in shares of Analog Devices by 2.3% in the 1st quarter. Meritage Group LP now owns 1,144,247 shares of the semiconductor company’s stock valued at $226,321,000 after buying an additional 26,028 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in Analog Devices by 292.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,000 shares of the semiconductor company’s stock worth $21,757,000 after acquiring an additional 81,972 shares during the period. Puzo Michael J increased its stake in Analog Devices by 6.1% during the first quarter. Puzo Michael J now owns 58,341 shares of the semiconductor company’s stock worth $11,539,000 after acquiring an additional 3,340 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in Analog Devices by 25.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 501,708 shares of the semiconductor company’s stock valued at $99,295,000 after purchasing an additional 102,801 shares during the period. Finally, Lake Street Advisors Group LLC lifted its stake in shares of Analog Devices by 39.9% in the 1st quarter. Lake Street Advisors Group LLC now owns 5,851 shares of the semiconductor company’s stock valued at $1,157,000 after purchasing an additional 1,669 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, July 16th. Truist Financial boosted their price target on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Stifel Nicolaus increased their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, May 23rd. Finally, UBS Group upped their price target on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $245.50.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director James Champy sold 4,200 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,487,947.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction on Thursday, June 13th. The shares were 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 $16,198,239.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,642 shares of company stock valued at $10,481,343. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Down 1.6 %

Shares of NASDAQ:ADI traded down $3.70 during trading hours on Thursday, reaching $220.92. The stock had a trading volume of 5,111,394 shares, compared to its average volume of 3,291,138. The stock has a market capitalization of $109.62 billion, a price-to-earnings ratio of 51.62, a P/E/G ratio of 3.89 and a beta of 1.08. The firm’s 50 day moving average is $231.77 and its 200-day moving average is $207.51. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were paid a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.67%. Analog Devices’s dividend payout ratio is currently 85.98%.

Analog Devices Company 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.