J. Safra Sarasin Holding AG Trims Stock Position in Analog Devices, Inc. $ADI

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

Other hedge funds have also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute purchased a new position in shares of Analog Devices during the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC purchased a new position in Analog Devices in the second quarter worth $26,000. Clayton Financial Group LLC purchased a new stake in shares of Analog Devices during the 3rd quarter worth $31,000. Sound Income Strategies LLC grew its stake in shares of Analog Devices by 141.8% during the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 95 shares during the period. Finally, Access Investment Management LLC purchased a new position in shares of Analog Devices in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ADI shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 target price on shares of Analog Devices in a report on Tuesday, December 16th. Susquehanna raised their price objective on Analog Devices from $350.00 to $360.00 and gave the company a “positive” rating in a research note on Thursday. Stifel Nicolaus boosted their target price on Analog Devices from $290.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Bank of America lifted their price target on Analog Devices from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Finally, Zacks Research raised shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $312.04.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $275.07, for a total value of $2,750,700.00. Following the completion of the sale, the chief executive officer owned 155,688 shares in the company, valued at $42,825,098.16. The trade was a 6.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $297.27, for a total transaction of $928,968.75. Following the transaction, the director owned 130,071 shares in the company, valued at approximately $38,666,206.17. The trade was a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 53,544 shares of company stock valued at $14,328,561. 0.33% of the stock is currently owned by insiders.

Analog Devices Trading Down 0.5%

Analog Devices stock opened at $304.01 on Tuesday. The stock has a market cap of $148.86 billion, a PE ratio of 66.67, a P/E/G 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 50-day moving average price of $277.45 and a 200 day moving average price of $252.57. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $313.54.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) 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 analysts’ expectations of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the company earned $1.67 EPS. Equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

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

About Analog Devices

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.