Baillie Gifford & Co. Sells 133,373 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Baillie Gifford & Co. trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,379,454 shares of the semiconductor company's stock after selling 133,373 shares during the period. Baillie Gifford & Co. owned 0.68% of Analog Devices worth $777,849,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ADI. Atomi Financial Group Inc. purchased a new position in Analog Devices in the first quarter worth approximately $215,000. Bleakley Financial Group LLC boosted its position in shares of Analog Devices by 23.1% during the 1st quarter. Bleakley Financial Group LLC now owns 18,455 shares of the semiconductor company's stock worth $3,650,000 after purchasing an additional 3,459 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Analog Devices in the 1st quarter worth about $5,205,000. Koshinski Asset Management Inc. lifted its holdings in Analog Devices by 20.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,266 shares of the semiconductor company's stock valued at $844,000 after purchasing an additional 729 shares in the last quarter. Finally, Dearborn Partners LLC lifted its holdings in Analog Devices by 3.5% in the 1st quarter. Dearborn Partners LLC now owns 58,119 shares of the semiconductor company's stock valued at $11,495,000 after purchasing an additional 1,990 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ADI. Oppenheimer restated an "outperform" rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America cut their target price on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Morgan Stanley raised their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Finally, Barclays raised their price target on shares of Analog Devices from $235.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $249.80.

Insider Activity at Analog Devices

In related news, Director Edward H. Frank sold 500 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company's stock, valued at approximately $11,672,108.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company's stock, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Down 1.9 %

Shares of ADI traded down $4.24 during trading hours on Tuesday, hitting $216.23. The company had a trading volume of 796,135 shares, compared to its average volume of 3,200,714. The firm has a fifty day moving average price of $226.32 and a 200-day moving average price of $224.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock has a market capitalization of $107.36 billion, a price-to-earnings ratio of 66.21, a P/E/G ratio of 3.17 and a beta of 1.08. Analog Devices, Inc. has a 52-week low of $170.10 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm's revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.49 EPS. On average, equities research analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Tuesday, September 3rd. Analog Devices's dividend payout ratio (DPR) is 110.51%.

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.