Cantillon Capital Management LLC Sells 696,330 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Cantillon Capital Management LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 23.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,297,122 shares of the semiconductor company's stock after selling 696,330 shares during the period. Analog Devices makes up about 3.2% of Cantillon Capital Management LLC's investment portfolio, making the stock its 11th largest holding. Cantillon Capital Management LLC owned approximately 0.46% of Analog Devices worth $528,729,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ADI. Swiss National Bank grew its position in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company's stock worth $339,012,000 after purchasing an additional 4,600 shares in the last quarter. Summit Global Investments purchased a new position in Analog Devices during the 3rd quarter worth approximately $867,000. Versor Investments LP purchased a new position in Analog Devices during the 3rd quarter worth approximately $952,000. Tidal Investments LLC grew its position in Analog Devices by 24.9% during the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company's stock worth $6,268,000 after purchasing an additional 6,314 shares in the last quarter. Finally, BDF Gestion purchased a new position in shares of Analog Devices during the 2nd quarter valued at $4,491,000. Institutional investors own 86.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADI. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America reduced their price objective on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Oppenheimer reaffirmed an "outperform" rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley lifted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $249.80.

Insider Transactions at Analog Devices

In related news, Director Edward H. Frank sold 500 shares of the firm's 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 transaction, the director now owns 4,748 shares of the company's stock, valued at approximately $1,078,935.52. This trade represents a 9.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares of the company's stock, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,495 shares of company stock valued at $25,229,958 over the last quarter. Corporate insiders own 0.31% of the company's stock.

Analog Devices Trading Up 0.4 %

NASDAQ ADI traded up $0.78 during trading hours on Tuesday, hitting $210.43. The company's stock had a trading volume of 2,884,310 shares, compared to its average volume of 3,219,607. The stock has a fifty day moving average of $225.53 and a 200 day moving average of $225.51. Analog Devices, Inc. has a twelve month low of $179.44 and a twelve month high of $244.14. The firm has a market capitalization of $104.48 billion, a P/E ratio of 63.19, a PEG ratio of 2.89 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

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

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices's dividend payout ratio is 110.51%.

Analog Devices 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.