Cypress Asset Management Inc. TX Has $4.85 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Cypress Asset Management Inc. TX trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 2.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 33,169 shares of the semiconductor company’s stock after selling 780 shares during the period. Analog Devices makes up approximately 1.7% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 15th largest position. Cypress Asset Management Inc. TX’s holdings in Analog Devices were worth $4,846,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vontobel Holding Ltd. increased its position in Analog Devices by 84.8% in the 2nd quarter. Vontobel Holding Ltd. now owns 25,836 shares of the semiconductor company’s stock worth $3,804,000 after purchasing an additional 11,855 shares during the last quarter. Forum Financial Management LP increased its position in Analog Devices by 92.8% in the 1st quarter. Forum Financial Management LP now owns 5,910 shares of the semiconductor company’s stock worth $976,000 after purchasing an additional 2,844 shares during the last quarter. Avantax Advisory Services Inc. increased its position in Analog Devices by 30.7% in the 2nd quarter. Avantax Advisory Services Inc. now owns 5,598 shares of the semiconductor company’s stock worth $818,000 after purchasing an additional 1,314 shares during the last quarter. Buckley Wealth Management LLC acquired a new position in Analog Devices in the 1st quarter worth about $211,000. Finally, Wetherby Asset Management Inc. increased its position in Analog Devices by 7.3% in the 1st quarter. Wetherby Asset Management Inc. now owns 12,056 shares of the semiconductor company’s stock worth $1,991,000 after purchasing an additional 820 shares during the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In other news, Director Tunc Doluca sold 2,400 shares of the stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $150.00, for a total value of $360,000.00. Following the completion of the transaction, the director now directly owns 69,157 shares of the company’s stock, valued at approximately $10,373,550. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.91% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays upped their target price on Analog Devices from $140.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $210.00 price target on shares of Analog Devices in a research note on Friday, November 18th. Cowen upped their price target on Analog Devices from $180.00 to $190.00 in a research note on Wednesday. Needham & Company LLC downgraded Analog Devices from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $220.00 price target on shares of Analog Devices in a research note on Friday, August 19th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $191.65.

Analog Devices Stock Performance

NASDAQ:ADI traded up $0.77 during mid-day trading on Thursday, hitting $169.20. 3,851,895 shares of the company’s stock traded hands, compared to its average volume of 4,247,271. The firm has a 50 day moving average of $148.04 and a two-hundred day moving average of $155.09. The company has a current ratio of 2.02, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. Analog Devices, Inc. has a 12 month low of $133.48 and a 12 month high of $188.20. The firm has a market capitalization of $87.03 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Analog Devices (NASDAQ:ADIGet Rating) last issued its earnings results on Tuesday, November 22nd. The semiconductor company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.15. Analog Devices had a return on equity of 13.58% and a net margin of 22.88%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the firm posted $1.73 EPS. Analog Devices’s quarterly revenue was up 38.8% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices, Inc. will post 9.41 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, December 5th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Friday, December 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.80%. Analog Devices’s payout ratio is presently 57.58%.

Analog Devices Profile

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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