New York Life Investment Management LLC Cuts Position in Analog Devices, Inc. $ADI

New York Life Investment Management LLC cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,362 shares of the semiconductor company’s stock after selling 2,035 shares during the quarter. New York Life Investment Management LLC’s holdings in Analog Devices were worth $17,779,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of Analog Devices by 12.9% in the third quarter. Jones Financial Companies Lllp now owns 169,572 shares of the semiconductor company’s stock valued at $41,907,000 after purchasing an additional 19,383 shares during the period. Solstein Capital LLC grew its stake in shares of Analog Devices by 2.0% in the 2nd quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock valued at $549,000 after buying an additional 46 shares during the period. SG Americas Securities LLC increased its stake in Analog Devices by 684.6% during the third quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock worth $211,871,000 after acquiring an additional 752,411 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Analog Devices by 22.3% in the 3rd quarter. Voya Investment Management LLC now owns 1,293,403 shares of the semiconductor company’s stock valued at $317,789,000 after purchasing an additional 236,211 shares during the last quarter. Finally, AE Wealth Management LLC lifted its stake in shares of Analog Devices by 26.4% in the 3rd quarter. AE Wealth Management LLC now owns 43,932 shares of the semiconductor company’s stock valued at $10,795,000 after purchasing an additional 9,174 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADI. Cfra reaffirmed a “buy” rating and set a $280.00 target price on shares of Analog Devices in a research note on Tuesday, November 25th. Barclays set a $315.00 target price on shares of Analog Devices in a report on Thursday, January 15th. BNP Paribas Exane initiated coverage on Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. 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. Finally, Oppenheimer increased their price objective on shares of Analog Devices from $265.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. Three 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $314.22.

Analog Devices Stock Up 0.8%

ADI stock opened at $322.96 on Tuesday. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $327.74. The company has a market cap of $157.81 billion, a price-to-earnings ratio of 70.82, a price-to-earnings-growth ratio of 1.74 and a beta of 1.03. The company has a fifty day moving average price of $291.57 and a 200 day moving average price of $258.09. 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 (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 analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the company posted $1.67 earnings per share. The business’s revenue was up 25.9% on a year-over-year basis. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.2%. Analog Devices’s dividend payout ratio is presently 86.84%.

Insider Activity

In related news, SVP Katsufumi Nakamura sold 500 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $301.46, for a total value of $150,730.00. Following the completion of the sale, the senior vice president owned 12,710 shares in the company, valued at $3,831,556.60. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Martin Cotter sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $278.44, for a total value of $2,784,400.00. Following the completion of the sale, the senior vice president directly owned 49,664 shares of the company’s stock, valued at $13,828,444.16. This represents a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 53,544 shares of company stock valued at $15,320,417 over the last ninety days. 0.36% of the stock is currently owned by company insiders.

Analog Devices Company 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.