Cullinan Associates Inc. Sells 11,093 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Cullinan Associates Inc. cut its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 33.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,025 shares of the semiconductor company's stock after selling 11,093 shares during the period. Cullinan Associates Inc.'s holdings in Analog Devices were worth $4,356,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Pinnacle Bancorp Inc. lifted its position in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company's stock valued at $26,000 after buying an additional 65 shares in the last quarter. USA Financial Formulas lifted its position in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company's stock valued at $28,000 after buying an additional 65 shares in the last quarter. Cetera Trust Company N.A acquired a new position in shares of Analog Devices during the fourth quarter worth $29,000. Private Wealth Management Group LLC acquired a new position in shares of Analog Devices during the fourth quarter worth $29,000. Finally, Riverview Trust Co acquired a new position in shares of Analog Devices during the first quarter worth $30,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Trading Up 1.4 %

NASDAQ ADI traded up $3.06 on Tuesday, hitting $228.24. 2,417,539 shares of the company were exchanged, compared to its average volume of 3,324,715. The company's 50 day moving average price is $220.91 and its 200-day moving average price is $202.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market capitalization of $113.26 billion, a P/E ratio of 53.33, a price-to-earnings-growth ratio of 3.85 and a beta of 1.08. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $241.88.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.14. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business's revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.83 EPS. Analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. Analog Devices's dividend payout ratio is 85.98%.

Insider Activity

In other news, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the sale, the executive vice president now directly owns 69,241 shares of the company's stock, valued at $16,198,239.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gregory M. Bryant sold 17,612 shares of the firm's stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now directly owns 69,241 shares of the company's stock, valued at $16,198,239.54. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the firm's stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company's stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,121 shares of company stock valued at $11,168,654. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of Analog Devices from $210.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, May 23rd. Bank of America lifted their price target on shares of Analog Devices from $225.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, May 23rd. Sanford C. Bernstein lifted their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock a "market perform" rating in a research note on Thursday, May 23rd. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Thursday, May 23rd. Finally, Barclays lifted their price target on shares of Analog Devices from $185.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $243.23.

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.