Tower View Wealth Management LLC Sells 1,568 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Tower View Wealth Management LLC decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 14.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,388 shares of the semiconductor company’s stock after selling 1,568 shares during the quarter. Tower View Wealth Management LLC’s holdings in Analog Devices were worth $1,893,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Midwest Professional Planners LTD. lifted its position in Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after buying an additional 53 shares in the last quarter. Portland Global Advisors LLC lifted its position in Analog Devices by 1.3% during the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after purchasing an additional 53 shares during the period. Cassady Schiller Wealth Management LLC lifted its position in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Lindbrook Capital LLC lifted its position in Analog Devices by 1.3% during the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company’s stock valued at $1,114,000 after purchasing an additional 65 shares during the period. Finally, Missouri Trust & Investment Co lifted its position in Analog Devices by 33.0% during the 1st quarter. Missouri Trust & Investment Co now owns 266 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 66 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the sale, the chief executive officer now owns 142,996 shares of the company’s stock, valued at $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,934 shares of company stock worth $5,807,196. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 0.6%

Shares of NASDAQ ADI opened at $228.35 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $209.55 and its 200 day simple moving average is $211.14. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The firm has a market cap of $113.32 billion, a PE ratio of 62.22, a P/E/G ratio of 2.12 and a beta of 1.00.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. The business’s revenue was up 22.3% on a year-over-year basis. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.73%. Analog Devices’s payout ratio is 107.90%.

Wall Street Analyst Weigh In

ADI has been the topic of a number of analyst reports. Barclays increased their price target on shares of Analog Devices from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Friday, May 23rd. Noble Financial upgraded shares of Analog Devices to an “outperform” rating in a research report on Wednesday. Oppenheimer increased their price target on shares of Analog Devices from $225.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Wells Fargo & Company set a $235.00 target price on Analog Devices and gave the stock an “equal weight” rating in a research note on Monday, June 16th. Finally, KGI Securities assumed coverage on Analog Devices in a research note on Friday, May 23rd. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $251.75.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.