Analog Devices, Inc. $ADI Shares Sold by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 14.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 29,214 shares of the semiconductor company’s stock after selling 4,786 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Analog Devices were worth $7,178,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Heartland Advisors Inc. purchased a new stake in Analog Devices in the third quarter valued at approximately $107,000. Holistic Financial Partners acquired a new stake in shares of Analog Devices in the third quarter valued at $259,000. Arvest Bank Trust Division lifted its stake in Analog Devices by 88.8% during the 3rd quarter. Arvest Bank Trust Division now owns 3,192 shares of the semiconductor company’s stock worth $784,000 after acquiring an additional 1,501 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Analog Devices during the 3rd quarter valued at about $226,000. Finally, Wealthcare Advisory Partners LLC grew its position in Analog Devices by 3.5% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 4,240 shares of the semiconductor company’s stock valued at $1,042,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other news, SVP Katsufumi Nakamura sold 500 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $301.46, for a total value of $150,730.00. Following the completion of the sale, the senior vice president directly owned 12,710 shares of the company’s stock, valued at approximately $3,831,556.60. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Martin Cotter sold 10,000 shares of Analog Devices stock in a transaction on Monday, January 5th. The shares were sold at an average price of $278.44, for a total transaction of $2,784,400.00. Following the completion of the transaction, the senior vice president directly owned 49,664 shares in the company, valued at $13,828,444.16. The trade was a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 53,544 shares of company stock valued at $15,320,417. 0.36% of the stock is owned by insiders.

Analog Devices Trading Up 1.7%

NASDAQ:ADI opened at $337.10 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $343.96. The stock has a market cap of $164.72 billion, a P/E ratio of 73.93, a P/E/G ratio of 1.93 and a beta of 1.03. The stock has a 50-day simple moving average of $297.14 and a 200-day simple moving average of $261.77.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the company posted $1.67 earnings per share. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.2%. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADI. UBS Group reissued a “buy” rating and set a $400.00 price target on shares of Analog Devices in a research report on Monday, February 9th. KeyCorp boosted their price target on shares of Analog Devices from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Zacks Research raised Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Citigroup lifted their target price on Analog Devices from $290.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $350.00 price target on shares of Analog Devices in a report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.87.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.