Kesler Norman & Wride LLC Sells 1,208 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Kesler Norman & Wride LLC reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 38,944 shares of the semiconductor company’s stock after selling 1,208 shares during the period. Analog Devices accounts for approximately 1.6% of Kesler Norman & Wride LLC’s portfolio, making the stock its 13th largest holding. Kesler Norman & Wride LLC’s holdings in Analog Devices were worth $7,703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Amarillo National Bank lifted its position in Analog Devices by 3.7% in the fourth quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 54 shares during the last quarter. Mcdonald Partners LLC lifted its position in Analog Devices by 0.7% in the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock valued at $1,497,000 after purchasing an additional 54 shares during the last quarter. Keystone Financial Services lifted its position in Analog Devices by 1.8% in the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 55 shares during the last quarter. Legacy Advisors LLC lifted its position in Analog Devices by 2.3% in the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after purchasing an additional 59 shares during the last quarter. Finally, Wealth Alliance lifted its position in Analog Devices by 3.6% in the fourth quarter. Wealth Alliance now owns 1,769 shares of the semiconductor company’s stock valued at $351,000 after purchasing an additional 61 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADI. Barclays upped their target price on Analog Devices from $185.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. Morgan Stanley upped their target price on Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. UBS Group increased their price objective on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Bank of America increased their price objective on Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Oppenheimer increased their price objective on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $243.23.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $1.78 during trading on Thursday, hitting $230.02. The company had a trading volume of 1,425,672 shares, compared to its average volume of 2,827,371. The stock has a 50 day simple moving average of $222.34 and a 200 day simple moving average of $203.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $241.88. The firm has a market capitalization of $114.14 billion, a P/E ratio of 53.74, a price-to-earnings-growth ratio of 3.85 and a beta of 1.08.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred 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 sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the firm’s 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 completion of the transaction, the chief accounting officer now owns 10,547 shares in the company, valued at approximately $2,495,209.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred 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 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. In the last 90 days, insiders have sold 46,642 shares of company stock valued at $10,481,343. 0.31% of the stock is owned by company insiders.

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.