Janney Montgomery Scott LLC Decreases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Janney Montgomery Scott LLC cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 101,644 shares of the semiconductor company’s stock after selling 4,140 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Analog Devices were worth $20,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADI. Orion Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter worth about $27,000. Menard Financial Group LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $27,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Finally, Cassady Schiller Wealth Management LLC boosted its stake in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 55 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Up 1.0%

ADI opened at $229.65 on Thursday. The company has a market cap of $113.96 billion, a PE ratio of 62.58, a P/E/G ratio of 2.10 and a beta of 1.00. The business has a 50 day moving average price of $207.54 and a two-hundred day moving average price of $211.05. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 EPS. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Wednesday, June 4th. Analog Devices’s dividend payout ratio is currently 107.90%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADI. Williams Trading set a $260.00 price target on Analog Devices in a research note on Friday, May 23rd. KGI Securities initiated coverage on Analog Devices in a research note on Friday, May 23rd. They issued a “buy” rating for the company. Oppenheimer boosted their target price on Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Stifel Nicolaus upped their price objective on Analog Devices from $225.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Finally, Citigroup upped their price objective on Analog Devices from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $251.75.

Insider Buying and Selling

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer now directly owns 142,996 shares in the company, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,934 shares of company stock worth $5,807,196 in the last quarter. Company insiders own 0.33% of the company’s stock.

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.