Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 12.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,014,609 shares of the semiconductor company’s stock after selling 1,926,623 shares during the quarter. Analog Devices comprises about 0.9% of Massachusetts Financial Services Co. MA’s holdings, making the stock its 17th largest holding. Massachusetts Financial Services Co. MA owned approximately 2.62% of Analog Devices worth $2,970,715,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADI. Point72 Italy S.r.l. purchased a new position in Analog Devices in the fourth quarter valued at about $6,367,000. Grayhawk Investment Strategies Inc. purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $850,000. Capital International Investors grew its position in shares of Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after buying an additional 246,799 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in shares of Analog Devices by 1,055.6% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after buying an additional 208,522 shares during the last quarter. Finally, Profund Advisors LLC raised its holdings in Analog Devices by 16.2% in the fourth quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock valued at $14,365,000 after acquiring an additional 10,106 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $113,620.00. Following the transaction, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The disclosure for this sale can be found here. In the last three months, insiders sold 31,495 shares of company stock valued at $7,181,458. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ADI shares. Stifel Nicolaus boosted their target price 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. Susquehanna upped their price objective on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research note on Thursday, May 23rd. Morgan Stanley increased their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. TD Cowen upped their price target on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $251.45.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $225.42 on Monday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company has a market cap of $111.86 billion, a PE ratio of 52.67, a P/E/G ratio of 3.74 and a beta of 1.07. The stock has a 50 day simple moving average of $224.69 and a 200-day simple moving average of $215.25.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 EPS. On average, equities research analysts forecast that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.63%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

About Analog Devices

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.