Donaldson Capital Management LLC Cuts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Donaldson Capital Management LLC reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 10.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,864 shares of the semiconductor company’s stock after selling 226 shares during the quarter. Donaldson Capital Management LLC’s holdings in Analog Devices were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ADI. Massachusetts Financial Services Co. MA increased its holdings in Analog Devices by 8.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after buying an additional 1,197,215 shares in the last quarter. Invesco Ltd. raised its holdings in Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after purchasing an additional 701,367 shares during the last quarter. Norges Bank purchased a new stake in Analog Devices during the fourth quarter worth $1,225,227,000. Capital International Investors grew its holdings in Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after purchasing an additional 246,799 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Analog Devices by 9.3% in the fourth quarter. First Eagle Investment Management LLC now owns 3,836,884 shares of the semiconductor company’s stock valued at $761,852,000 after buying an additional 327,542 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 2.0 %

ADI traded up $4.03 on Friday, reaching $201.97. 3,136,261 shares of the company’s stock were exchanged, compared to its average volume of 3,090,032. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20. The company’s 50 day moving average is $193.45 and its 200-day moving average is $187.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The company has a market cap of $100.16 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 4.97 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.75 earnings per share. Equities analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a $0.92 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.82%. Analog Devices’s dividend payout ratio is presently 65.83%.

Insider Activity

In related news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,707 shares of company stock worth $4,825,113. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on ADI. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research note on Thursday, January 18th. Cantor Fitzgerald restated a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a research report on Monday, March 4th. Evercore ISI began coverage on Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price on the stock. Barclays raised their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Finally, KeyCorp upped their price objective on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $208.17.

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.