Weitz Investment Management Inc. lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 255,000 shares of the semiconductor company’s stock after acquiring an additional 13,175 shares during the quarter. Weitz Investment Management Inc.’s holdings in Analog Devices were worth $26,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ADI. First American Bank boosted its holdings in shares of Analog Devices by 1.7% in the first quarter. First American Bank now owns 9,628 shares of the semiconductor company’s stock worth $1,014,000 after buying an additional 161 shares during the last quarter. 10 15 Associates Inc. lifted its holdings in Analog Devices by 0.7% during the fourth quarter. 10 15 Associates Inc. now owns 30,283 shares of the semiconductor company’s stock valued at $2,599,000 after purchasing an additional 220 shares in the last quarter. Tradition Capital Management LLC raised its position in shares of Analog Devices by 18.6% during the first quarter. Tradition Capital Management LLC now owns 6,470 shares of the semiconductor company’s stock valued at $681,000 after buying an additional 1,015 shares during the last quarter. Riverbridge Partners LLC raised its position in shares of Analog Devices by 7.6% during the first quarter. Riverbridge Partners LLC now owns 501,781 shares of the semiconductor company’s stock valued at $52,822,000 after buying an additional 35,586 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Analog Devices by 43.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,225 shares of the semiconductor company’s stock worth $1,603,000 after purchasing an additional 4,625 shares during the last quarter. Hedge funds and other institutional investors own 89.64% of the company’s stock.

In other Analog Devices news, SVP Yusuf Jamal sold 31,867 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $98.19, for a total value of $3,129,020.73. Following the sale, the senior vice president now owns 2,124 shares in the company, valued at approximately $208,555.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $98.23, for a total value of $982,300.00. Following the completion of the sale, the chief executive officer now owns 31,206 shares in the company, valued at approximately $3,065,365.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,311 shares of company stock worth $7,702,842. Insiders own 0.50% of the company’s stock.

ADI has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a research report on Monday, February 18th. Robert W. Baird reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research note on Wednesday, February 20th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Analog Devices in a research note on Wednesday, February 20th. SunTrust Banks increased their price target on shares of Analog Devices to $126.00 and gave the company an “average” rating in a research report on Thursday, February 21st. Finally, Oppenheimer upped their price objective on shares of Analog Devices to $117.00 and gave the company an “outperform” rating in a report on Thursday, February 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. Analog Devices currently has a consensus rating of “Buy” and an average target price of $109.00.

NASDAQ:ADI traded down $2.10 during midday trading on Friday, hitting $103.68. The company’s stock had a trading volume of 80,948 shares, compared to its average volume of 3,100,031. The company has a current ratio of 1.52, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. Analog Devices, Inc. has a fifty-two week low of $76.62 and a fifty-two week high of $118.54. The company has a market cap of $38.59 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.61 and a beta of 1.37.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.06. Analog Devices had a return on equity of 19.17% and a net margin of 25.18%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm posted $1.45 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts predict that Analog Devices, Inc. will post 5.24 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 31st were given a $0.54 dividend. The ex-dividend date was Thursday, May 30th. This represents a $2.16 annualized dividend and a yield of 2.08%. Analog Devices’s dividend payout ratio is presently 36.36%.

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Analog Devices Profile

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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

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