Brighton Jones LLC Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Brighton Jones LLC decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 39.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,434 shares of the semiconductor company’s stock after selling 951 shares during the period. Brighton Jones LLC’s holdings in Analog Devices were worth $285,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ADI. Massachusetts Financial Services Co. MA raised its stake in Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares during the period. Nordea Investment Management AB lifted its holdings in Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after acquiring an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC grew its position in Analog Devices by 20,527.8% in the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after acquiring an additional 930,732 shares during the period. Alecta Tjanstepension Omsesidigt increased its position in shares of Analog Devices by 193.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after purchasing an additional 775,000 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after acquiring an additional 701,367 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Up 1.6 %

Shares of Analog Devices stock opened at $199.63 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $194.08 and a 200-day simple moving average of $187.97. The stock has a market cap of $99.00 billion, a price-to-earnings ratio of 35.71, a PEG ratio of 4.86 and a beta of 1.14. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $204.20.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $2.75 earnings per share. Analog Devices’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, equities analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.92 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

Analyst Ratings Changes

A number of research analysts have commented on ADI shares. Evercore ISI assumed coverage on Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price target on the stock. KeyCorp raised their target price on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 price target on shares of Analog Devices in a research note on Monday, March 4th. Morgan Stanley reissued an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a research note on Thursday, April 11th. Finally, Oppenheimer restated an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,057,745.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,707 shares of company stock worth $4,874,613. Insiders own 0.31% of the company’s stock.

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.