Analog Devices, Inc. $ADI Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 16.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,147 shares of the semiconductor company’s stock after selling 22,471 shares during the period. J. Safra Sarasin Holding AG’s holdings in Analog Devices were worth $29,029,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Investment Advisory Group LLC acquired a new stake in shares of Analog Devices during the 3rd quarter worth approximately $206,000. Phoenix Financial Ltd. lifted its holdings in Analog Devices by 16.0% in the third quarter. Phoenix Financial Ltd. now owns 3,292 shares of the semiconductor company’s stock valued at $809,000 after acquiring an additional 454 shares during the last quarter. Paragon Private Wealth Management LLC grew its position in Analog Devices by 39.9% in the third quarter. Paragon Private Wealth Management LLC now owns 3,612 shares of the semiconductor company’s stock worth $887,000 after acquiring an additional 1,030 shares during the period. EFG Asset Management North America Corp. increased its stake in Analog Devices by 3.6% during the third quarter. EFG Asset Management North America Corp. now owns 20,709 shares of the semiconductor company’s stock worth $5,087,000 after acquiring an additional 719 shares during the last quarter. Finally, Saxon Interests Inc. raised its position in Analog Devices by 45.8% in the third quarter. Saxon Interests Inc. now owns 7,663 shares of the semiconductor company’s stock valued at $1,926,000 after purchasing an additional 2,408 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ADI. The Goldman Sachs Group reissued a “buy” rating and set a $300.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Evercore ISI dropped their price target on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Wall Street Zen upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, KeyCorp upped their price target on Analog Devices from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Analog Devices Trading Down 0.5%

NASDAQ:ADI opened at $304.01 on Tuesday. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $313.54. The firm has a market cap of $148.86 billion, a PE ratio of 66.67, a price-to-earnings-growth ratio of 1.65 and a beta of 1.03. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $277.45 and a 200 day moving average price of $252.57.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.Analog Devices’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 EPS. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, December 8th. Analog Devices’s payout ratio is 86.84%.

Insider Buying and Selling

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $297.27, for a total value of $928,968.75. Following the transaction, the director owned 130,071 shares of the company’s stock, valued at $38,666,206.17. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of Analog Devices stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total value of $2,271,227.07. Following the sale, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This trade represents a 30.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 53,544 shares of company stock worth $14,328,561. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.