Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Empowered Funds LLC

Empowered Funds LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 48.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,905 shares of the semiconductor company's stock after selling 22,965 shares during the quarter. Empowered Funds LLC's holdings in Analog Devices were worth $5,732,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ADI. Swedbank AB acquired a new position in shares of Analog Devices during the first quarter valued at approximately $537,171,000. Canada Pension Plan Investment Board raised its holdings in shares of Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company's stock valued at $346,834,000 after acquiring an additional 1,753,536 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock valued at $540,463,000 after purchasing an additional 1,422,054 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company's stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Analog Devices by 23,792.4% in the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company's stock valued at $2,043,000,000 after purchasing an additional 883,888 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Insiders Place Their Bets

In other news, Director Edward H. Frank sold 995 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 20.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock worth $25,229,958 in the last quarter. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on ADI shares. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America cut their price target on Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their target price on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $249.80.

Analog Devices Trading Down 2.8 %

Shares of ADI stock traded down $5.89 on Friday, hitting $206.35. The stock had a trading volume of 3,880,962 shares, compared to its average volume of 2,786,105. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm has a market capitalization of $102.45 billion, a P/E ratio of 61.97, a P/E/G ratio of 2.89 and a beta of 1.08. Analog Devices, Inc. has a 1 year low of $178.66 and a 1 year high of $244.14. The company's 50 day moving average price is $225.88 and its 200-day moving average price is $225.34.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly 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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the business earned $2.49 EPS. Analog Devices's revenue was down 24.8% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.78%. Analog Devices's dividend payout ratio (DPR) is 110.51%.

About Analog Devices

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.