Raymond James Financial Services Advisors Inc. Sells 666 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Raymond James Financial Services Advisors Inc. lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 345,966 shares of the semiconductor company’s stock after selling 666 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.07% of Analog Devices worth $78,970,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADI. Norges Bank acquired a new stake in shares of Analog Devices in the 4th quarter worth $1,225,227,000. Swedbank AB acquired a new stake in Analog Devices in the first quarter worth about $537,171,000. Vanguard Group Inc. grew its stake in shares of Analog Devices by 4.7% during 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 last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after acquiring an additional 1,753,536 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on ADI shares. Barclays boosted their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. The Goldman Sachs Group lifted their price target on Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Sanford C. Bernstein increased their price objective on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. UBS Group lifted their target price on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Oppenheimer increased their price target on shares of Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

Insider Buying and Selling

In other news, CAO Michael Sondel sold 4,830 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were 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 of the company’s stock, valued at approximately $2,495,209.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Michael Sondel sold 4,830 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the completion of the sale, 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 can be accessed through this link. Also, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares in the company, valued at $16,198,239.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,642 shares of company stock worth $10,791,543. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Up 1.2 %

Shares of ADI opened at $225.95 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. The firm has a market cap of $112.12 billion, a P/E ratio of 52.79, a PEG ratio of 3.69 and a beta of 1.08. The stock’s 50 day moving average is $227.10 and its two-hundred day moving average is $210.65. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14.

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. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. Analog Devices’s quarterly revenue was down 33.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.83 EPS. Analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

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.