Principal Financial Group Inc. boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 17.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 553,093 shares of the semiconductor company’s stock after buying an additional 83,511 shares during the period. Principal Financial Group Inc.’s holdings in Analog Devices were worth $45,326,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Jacobus Wealth Management Inc. bought a new position in Analog Devices during the first quarter worth approximately $113,000. Heritage Trust Co bought a new position in Analog Devices during the first quarter worth approximately $114,000. Financial Architects Inc increased its position in Analog Devices by 291.6% in the first quarter. Financial Architects Inc now owns 1,547 shares of the semiconductor company’s stock worth $126,000 after buying an additional 1,152 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Analog Devices by 1,250.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,890 shares of the semiconductor company’s stock worth $155,000 after buying an additional 1,750 shares during the period. Finally, Manchester Capital Management LLC increased its position in Analog Devices by 29.9% in the first quarter. Manchester Capital Management LLC now owns 2,166 shares of the semiconductor company’s stock worth $178,000 after buying an additional 498 shares during the period. 88.06% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

Shares of Analog Devices, Inc. (NASDAQ ADI) traded down 0.248% during midday trading on Tuesday, hitting $80.171. 428,017 shares of the stock were exchanged. The stock has a market cap of $29.42 billion, a P/E ratio of 30.705 and a beta of 1.27. Analog Devices, Inc. has a one year low of $52.17 and a one year high of $90.49. The stock’s 50-day moving average price is $79.97 and its 200 day moving average price is $78.06.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.18. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was up 41.2% on a year-over-year basis. On average, analysts anticipate that Analog Devices, Inc. will post $4.37 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Friday, June 9th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Wednesday, June 7th. Analog Devices’s dividend payout ratio is presently 67.92%.

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A number of research analysts recently commented on ADI shares. Pacific Crest increased their target price on shares of Analog Devices to $98.00 and gave the company an “overweight” rating in a research report on Tuesday, March 7th. Stifel Nicolaus increased their target price on shares of Analog Devices to $92.00 and gave the company a “buy” rating in a research report on Tuesday, March 7th. Barclays PLC reaffirmed an “equal weight” rating and issued a $90.00 target price (up from $85.00) on shares of Analog Devices in a research report on Monday, March 13th. Credit Suisse Group started coverage on shares of Analog Devices in a research report on Tuesday, March 14th. They issued an “outperform” rating and a $100.00 target price on the stock. Finally, B. Riley reissued a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a research report on Thursday, March 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Analog Devices currently has a consensus rating of “Buy” and a consensus price target of $88.67.

In other news, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $81.54, for a total value of $244,620.00. Following the transaction, the senior vice president now owns 20,404 shares in the company, valued at approximately $1,663,742.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 47,500 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total value of $4,108,750.00. Following the completion of the transaction, the chief executive officer now owns 61,484 shares in the company, valued at approximately $5,318,366. The disclosure for this sale can be found here. Insiders have sold 111,926 shares of company stock valued at $9,321,451 over the last ninety days. Insiders own 1.10% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

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