Royal Bank of Canada cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 45.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 316,088 shares of the semiconductor company’s stock after selling 262,984 shares during the period. Royal Bank of Canada owned 0.09% of Analog Devices worth $24,593,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ADI. Waldron LP grew its stake in shares of Analog Devices by 40.9% during the 1st quarter. Waldron LP now owns 4,166 shares of the semiconductor company’s stock valued at $341,000 after buying an additional 1,210 shares during the period. Jacobus Wealth Management Inc. purchased a new stake in shares of Analog Devices during the 1st quarter valued at $113,000. Cipher Capital LP purchased a new stake in shares of Analog Devices during the 1st quarter valued at $2,144,000. Victory Capital Management Inc. grew its stake in shares of Analog Devices by 0.9% during the 1st quarter. Victory Capital Management Inc. now owns 22,933 shares of the semiconductor company’s stock valued at $1,880,000 after buying an additional 200 shares during the period. Finally, Atlantic Trust Group LLC grew its stake in shares of Analog Devices by 22.5% during the 1st quarter. Atlantic Trust Group LLC now owns 33,391 shares of the semiconductor company’s stock valued at $2,736,000 after buying an additional 6,129 shares during the period. Institutional investors own 86.67% of the company’s stock.

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In other Analog Devices news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $80.35, for a total transaction of $241,050.00. Following the sale, the senior vice president now directly owns 20,404 shares in the company, valued at $1,639,461.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenton J. Sicchitano sold 15,000 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $88.15, for a total transaction of $1,322,250.00. The disclosure for this sale can be found here. Insiders have sold 126,494 shares of company stock worth $10,677,931 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Several analysts have recently issued reports on ADI shares. Royal Bank Of Canada reissued a “buy” rating and set a $92.00 price objective on shares of Analog Devices in a research note on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating on shares of Analog Devices in a research note on Monday, July 10th. B. Riley reissued a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a research note on Tuesday, June 27th. Drexel Hamilton reissued a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a research note on Wednesday, August 30th. Finally, BidaskClub raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Eleven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $92.12.

Shares of Analog Devices, Inc. (ADI) opened at 87.71 on Tuesday. The firm has a market capitalization of $32.25 billion, a price-to-earnings ratio of 43.66 and a beta of 1.30. Analog Devices, Inc. has a 52-week low of $59.54 and a 52-week high of $90.49. The firm has a 50-day moving average of $83.27 and a 200 day moving average of $80.44.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted $0.82 earnings per share. Analog Devices’s revenue was up 64.9% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post $4.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Friday, September 8th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.05%. Analog Devices’s payout ratio is 86.12%.

About Analog Devices

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

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

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