First Interstate Bank Reduces Position in Analog Devices, Inc. (ADI)

First Interstate Bank lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.5% during the first quarter, Holdings Channel reports. The institutional investor owned 2,093 shares of the semiconductor company’s stock after selling 31 shares during the period. First Interstate Bank’s holdings in Analog Devices were worth $172,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADI. Comerica Bank increased its position in Analog Devices by 6.4% in the fourth quarter. Comerica Bank now owns 82,845 shares of the semiconductor company’s stock worth $6,020,000 after buying an additional 4,998 shares in the last quarter. Private Advisor Group LLC acquired a new position in Analog Devices during the fourth quarter worth about $262,000. Tredje AP fonden acquired a new position in Analog Devices during the fourth quarter worth about $281,000. FMR LLC increased its position in Analog Devices by 48.1% in the fourth quarter. FMR LLC now owns 5,095,746 shares of the semiconductor company’s stock worth $370,053,000 after buying an additional 1,653,882 shares in the last quarter. Finally, Keybank National Association OH increased its position in Analog Devices by 3.6% in the fourth quarter. Keybank National Association OH now owns 8,586 shares of the semiconductor company’s stock worth $624,000 after buying an additional 296 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.

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

Shares of Analog Devices, Inc. (NASDAQ:ADI) traded up 0.36% during mid-day trading on Friday, reaching $80.04. 5,700,640 shares of the company traded hands. The stock’s 50-day moving average is $79.85 and its 200-day moving average is $77.93. The company has a market capitalization of $29.38 billion, a P/E ratio of 30.65 and a beta of 1.27. Analog Devices, Inc. has a 52 week low of $52.17 and a 52 week high of $90.49.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.18. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, equities analysts predict that Analog Devices, Inc. will post $4.37 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Friday, June 9th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, June 7th. Analog Devices’s payout ratio is currently 67.92%.

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A number of research analysts recently issued reports on ADI shares. B. Riley restated a “buy” rating and set a $89.00 target price on shares of Analog Devices in a research report on Saturday, February 18th. Pacific Crest boosted their target price on shares of Analog Devices to $98.00 and gave the company an “overweight” rating in a research report on Tuesday, March 7th. Stifel Nicolaus boosted their target price on shares of Analog Devices to $92.00 and gave the company a “buy” rating in a research report on Tuesday, March 7th. Barclays PLC restated an “equal weight” rating and set a $90.00 target price (up from $85.00) on shares of Analog Devices in a research report on Monday, March 13th. Finally, Credit Suisse Group started coverage on shares of Analog Devices in a research report on Tuesday, March 14th. They set an “outperform” rating and a $100.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $88.67.

In other news, CEO Vincent Roche sold 47,500 shares of Analog Devices stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the completion of the sale, the chief executive officer now directly owns 61,484 shares in the company, valued at $5,318,366. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Eileen Wynne sold 5,945 shares of Analog Devices stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $75.96, for a total transaction of $451,582.20. Following the sale, the chief accounting officer now owns 3,305 shares of the company’s stock, valued at $251,047.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,426 shares of company stock valued at $9,612,861. 1.10% of the stock is currently owned by company insiders.

Analog Devices Company Profile

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

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