HM Payson & Co. Sells 627 Shares of Analog Devices, Inc. (NASDAQ:ADI)

HM Payson & Co. cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 12.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,229 shares of the semiconductor company’s stock after selling 627 shares during the period. HM Payson & Co.’s holdings in Analog Devices were worth $836,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ADI. Norges Bank bought a new position in shares of Analog Devices in the fourth quarter worth about $1,225,227,000. Swedbank AB purchased a new stake in Analog Devices in the first quarter worth about $537,171,000. Vanguard Group Inc. lifted its stake in Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board lifted its stake in Analog Devices by 17,535,360.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after acquiring an additional 1,753,536 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after acquiring an additional 1,330,242 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded down $10.96 during midday trading on Friday, reaching $207.96. 6,796,683 shares of the stock were exchanged, compared to its average volume of 3,382,127. The firm has a market cap of $103.19 billion, a price-to-earnings ratio of 48.59, a PEG ratio of 3.69 and a beta of 1.08. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The firm has a 50-day simple moving average of $231.39 and a two-hundred day simple moving average of $209.07. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business’s revenue was down 33.8% on a year-over-year basis. During the same quarter last year, the company earned $2.83 EPS. As a group, analysts anticipate that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. Analog Devices’s payout ratio is 85.98%.

Analysts Set New Price Targets

ADI has been the subject of a number of research reports. Susquehanna upped their price objective on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday, May 23rd. KeyCorp increased their price target on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Stifel Nicolaus increased their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Finally, Robert W. Baird increased their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $245.50.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Michael Sondel sold 4,830 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the transaction, the chief accounting officer now owns 10,547 shares in the company, valued at approximately $2,495,209.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Insiders have sold 36,642 shares of company stock worth $8,510,743 in the last quarter. Corporate 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.