Cantillon Capital Management LLC Sells 23,729 Shares of Analog Devices, Inc. $ADI

Cantillon Capital Management LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,152,518 shares of the semiconductor company’s stock after selling 23,729 shares during the period. Analog Devices accounts for approximately 2.9% of Cantillon Capital Management LLC’s portfolio, making the stock its 13th largest holding. Cantillon Capital Management LLC owned approximately 0.44% of Analog Devices worth $528,874,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Howard Hughes Medical Institute bought a new stake in Analog Devices during the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC purchased a new position in shares of Analog Devices during the 2nd quarter valued at $26,000. Clayton Financial Group LLC purchased a new position in shares of Analog Devices during the 3rd quarter valued at $31,000. Sound Income Strategies LLC increased its holdings in shares of Analog Devices by 141.8% in the third 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 stake in shares of Analog Devices in the second quarter worth $45,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

NASDAQ:ADI opened at $308.52 on Friday. The company has a market capitalization of $151.07 billion, a price-to-earnings ratio of 67.66, a PEG ratio of 1.65 and a beta of 1.03. The business has a 50 day moving average of $274.55 and a 200 day moving average of $251.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $313.19.

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

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were given 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 dividend payout ratio is presently 86.84%.

Insider Activity

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total value of $719,406.25. Following the transaction, the director owned 142,571 shares in the company, valued at approximately $32,821,269.91. The trade was a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the sale, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at approximately $5,258,381.39. This trade represents a 30.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 53,544 shares of company stock valued at $14,328,561. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 target price on shares of Analog Devices in a research note on Tuesday, December 16th. Zacks Research raised Analog Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Bank of America raised their target price on shares of Analog Devices from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday. Cfra reiterated a “buy” rating and set a $280.00 target price on shares of Analog Devices in a research report on Tuesday, November 25th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $300.00 price target on shares of Analog Devices in a research note on Tuesday, November 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.04.

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.