Proficio Capital Partners LLC Cuts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Proficio Capital Partners LLC decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,073 shares of the semiconductor company’s stock after selling 785 shares during the quarter. Proficio Capital Partners LLC’s holdings in Analog Devices were worth $2,784,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADI. Moneta Group Investment Advisors LLC raised its holdings in Analog Devices by 24.6% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 5,109 shares of the semiconductor company’s stock worth $895,000 after acquiring an additional 1,008 shares during the last quarter. Creative Planning lifted its holdings in shares of Analog Devices by 13.2% during the third quarter. Creative Planning now owns 95,045 shares of the semiconductor company’s stock valued at $16,641,000 after purchasing an additional 11,095 shares in the last quarter. Resources Management Corp CT ADV boosted its position in shares of Analog Devices by 12.2% during the third quarter. Resources Management Corp CT ADV now owns 12,571 shares of the semiconductor company’s stock valued at $2,201,000 after buying an additional 1,364 shares during the last quarter. Savoie Capital LLC bought a new stake in Analog Devices in the 3rd quarter worth about $981,000. Finally, Silver Oak Securities Incorporated purchased a new position in Analog Devices in the 3rd quarter worth about $29,000. 86.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ADI shares. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Evercore ISI initiated coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price for the company. Citigroup raised their price target on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Cantor Fitzgerald upped their price objective on Analog Devices from $205.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Finally, Oppenheimer raised their target price on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $243.23.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. 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, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,057,745.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,642 shares of company stock worth $10,481,343. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 0.6 %

Shares of NASDAQ ADI traded down $1.33 during mid-day trading on Tuesday, reaching $232.01. 1,315,482 shares of the company were exchanged, compared to its average volume of 3,274,128. The stock has a market cap of $115.13 billion, a price-to-earnings ratio of 54.21, a P/E/G ratio of 3.89 and a beta of 1.08. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $224.78 and a 200 day moving average of $204.33. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $241.88.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm earned $2.83 earnings per share. Analog Devices’s revenue was down 33.8% compared to the same quarter last year. On average, research analysts expect that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were issued a $0.92 dividend. 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 1.59%. Analog Devices’s dividend payout ratio is currently 85.98%.

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.