Transcend Capital Advisors LLC Sells 150 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Transcend Capital Advisors LLC lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 6.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,370 shares of the semiconductor company’s stock after selling 150 shares during the period. Transcend Capital Advisors LLC’s holdings in Analog Devices were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. SRN Advisors LLC grew its position in Analog Devices by 5.1% in the first quarter. SRN Advisors LLC now owns 4,925 shares of the semiconductor company’s stock valued at $974,000 after purchasing an additional 240 shares in the last quarter. NBW Capital LLC grew its position in shares of Analog Devices by 5.6% in the 1st quarter. NBW Capital LLC now owns 46,392 shares of the semiconductor company’s stock valued at $9,176,000 after acquiring an additional 2,461 shares during the period. Cypress Asset Management Inc. TX grew its position in shares of Analog Devices by 6.0% in the 1st quarter. Cypress Asset Management Inc. TX now owns 32,833 shares of the semiconductor company’s stock valued at $6,572,000 after acquiring an additional 1,869 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Analog Devices by 2.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,006,430 shares of the semiconductor company’s stock valued at $193,783,000 after acquiring an additional 21,831 shares during the period. Finally, Cambridge Trust Co. grew its position in shares of Analog Devices by 30.1% in the 1st quarter. Cambridge Trust Co. now owns 50,771 shares of the semiconductor company’s stock valued at $10,042,000 after acquiring an additional 11,743 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ADI. Citigroup lifted their price objective on shares of Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley lifted their price objective on shares of Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, July 16th. 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $245.50.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders have sold 36,642 shares of company stock valued at $8,510,743 in the last ninety days. 0.31% of the stock is currently owned by insiders.

Analog Devices Price Performance

Shares of Analog Devices stock traded down $10.96 during midday trading on Friday, hitting $207.96. 6,796,683 shares of the company traded hands, compared to its average volume of 3,382,127. The stock 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. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The firm’s fifty day moving average price is $231.39 and its 200-day moving average price is $209.07. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the firm posted $2.83 EPS. The firm’s revenue was down 33.8% on a year-over-year basis. As a group, sell-side analysts forecast 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. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s payout ratio is 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.