Otter Creek Advisors LLC Decreases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Otter Creek Advisors LLC cut its holdings in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 42.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,976 shares of the semiconductor company’s stock after selling 8,200 shares during the quarter. Analog Devices comprises 0.7% of Otter Creek Advisors LLC’s holdings, making the stock its 26th largest position. Otter Creek Advisors LLC’s holdings in Analog Devices were worth $1,813,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ADI. CWM LLC purchased a new position in shares of Analog Devices in the fourth quarter worth about $736,000. Qube Research & Technologies Ltd grew its holdings in Analog Devices by 29.5% during the fourth quarter. Qube Research & Technologies Ltd now owns 238,351 shares of the semiconductor company’s stock worth $41,895,000 after acquiring an additional 54,330 shares during the period. Fifth Third Bancorp grew its holdings in Analog Devices by 3.2% during the fourth quarter. Fifth Third Bancorp now owns 111,664 shares of the semiconductor company’s stock worth $19,627,000 after acquiring an additional 3,438 shares during the period. Waldron Private Wealth LLC grew its holdings in Analog Devices by 4.7% during the fourth quarter. Waldron Private Wealth LLC now owns 2,536 shares of the semiconductor company’s stock worth $445,000 after acquiring an additional 114 shares during the period. Finally, Oppenheimer & Co. Inc. grew its holdings in Analog Devices by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 41,116 shares of the semiconductor company’s stock worth $7,227,000 after acquiring an additional 4,309 shares during the period. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Analog Devices from $185.00 to $165.00 in a report on Wednesday, July 20th. The Goldman Sachs Group dropped their target price on Analog Devices from $185.00 to $167.00 in a report on Friday, July 15th. Morgan Stanley dropped their price objective on Analog Devices from $186.00 to $173.00 and set an “equal weight” rating on the stock in a report on Friday, June 10th. Sanford C. Bernstein raised their price objective on Analog Devices to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 19th. Finally, Bank of America dropped their price objective on Analog Devices from $220.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $195.79.

Insider Buying and Selling

In related news, Director Tunc Doluca sold 7,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $170.34, for a total transaction of $1,192,380.00. Following the completion of the transaction, the director now directly owns 78,357 shares of the company’s stock, valued at approximately $13,347,331.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Tunc Doluca sold 7,000 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $170.34, for a total transaction of $1,192,380.00. Following the completion of the transaction, the director now directly owns 78,357 shares of the company’s stock, valued at approximately $13,347,331.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bruce R. Evans acquired 3,650 shares of the stock in a transaction dated Friday, June 17th. The shares were acquired at an average cost of $144.16 per share, with a total value of $526,184.00. Following the completion of the transaction, the director now owns 104,008 shares in the company, valued at approximately $14,993,793.28. The disclosure for this purchase can be found here. Insiders sold 26,236 shares of company stock valued at $4,360,291 in the last three months. 0.91% of the stock is owned by corporate insiders.

Analog Devices Trading Up 0.2 %

NASDAQ:ADI traded up $0.29 on Friday, reaching $177.25. The company’s stock had a trading volume of 2,495,266 shares, compared to its average volume of 3,077,850. Analog Devices, Inc. has a 12-month low of $138.50 and a 12-month high of $191.95. The company has a quick ratio of 1.53, a current ratio of 1.99 and a debt-to-equity ratio of 0.17. The firm has a market cap of $92.14 billion, a price-to-earnings ratio of 50.21, a price-to-earnings-growth ratio of 1.56 and a beta of 1.13. The stock has a 50 day moving average price of $157.13 and a 200 day moving average price of $158.67.

Analog Devices (NASDAQ:ADIGet Rating) last posted its earnings results on Wednesday, May 18th. The semiconductor company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.28. Analog Devices had a return on equity of 12.11% and a net margin of 16.84%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. The company’s revenue for the quarter was up 78.9% on a year-over-year basis. On average, equities analysts anticipate that Analog Devices, Inc. will post 9.23 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 9th. Stockholders of record on Tuesday, May 31st were paid a $0.76 dividend. The ex-dividend date was Friday, May 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.72%. Analog Devices’s payout ratio is presently 86.12%.

Analog Devices Profile

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

See Also

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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