Cullinan Associates Inc. Has $6.82 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Cullinan Associates Inc. reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,590 shares of the semiconductor company’s stock after selling 979 shares during the quarter. Cullinan Associates Inc.’s holdings in Analog Devices were worth $6,822,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Analog Devices by 0.3% during the third quarter. Vanguard Group Inc. now owns 45,878,473 shares of the semiconductor company’s stock worth $6,392,707,000 after buying an additional 138,980 shares in the last quarter. BlackRock Inc. boosted its position in shares of Analog Devices by 5.2% during the 3rd quarter. BlackRock Inc. now owns 42,266,420 shares of the semiconductor company’s stock worth $5,889,403,000 after acquiring an additional 2,076,636 shares in the last quarter. State Street Corp increased its stake in Analog Devices by 0.5% in the third quarter. State Street Corp now owns 20,256,986 shares of the semiconductor company’s stock valued at $2,822,608,000 after acquiring an additional 92,672 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Analog Devices by 370.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,943,607 shares of the semiconductor company’s stock worth $722,212,000 after purchasing an additional 3,893,057 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Analog Devices by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,547,753 shares of the semiconductor company’s stock valued at $633,683,000 after purchasing an additional 15,624 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Insiders Place Their Bets

In other news, Director Tunc Doluca sold 6,000 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $194.34, for a total transaction of $1,166,040.00. Following the transaction, the director now owns 61,157 shares of the company’s stock, valued at approximately $11,885,251.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, Director Edward H. Frank sold 5,000 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $193.09, for a total transaction of $965,450.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $579,270. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tunc Doluca sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $194.34, for a total transaction of $1,166,040.00. Following the transaction, the director now owns 61,157 shares in the company, valued at approximately $11,885,251.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,195 shares of company stock worth $2,697,723. 0.46% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ADI has been the subject of several recent analyst reports. Credit Suisse Group upped their price objective on Analog Devices from $185.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Stifel Nicolaus raised their price target on shares of Analog Devices from $195.00 to $225.00 in a research note on Thursday, February 16th. Sanford C. Bernstein upped their price objective on shares of Analog Devices from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Analog Devices from $170.00 to $200.00 in a research note on Thursday, February 16th. Finally, Oppenheimer increased their price target on Analog Devices from $210.00 to $230.00 in a research note on Thursday, February 16th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $213.68.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $185.85 on Friday. The business has a 50-day moving average price of $178.70 and a two-hundred day moving average price of $163.07. Analog Devices, Inc. has a 1-year low of $133.48 and a 1-year high of $196.41. The company has a current ratio of 2.12, a quick ratio of 1.50 and a debt-to-equity ratio of 0.18. The company has a market cap of $94.01 billion, a P/E ratio of 28.03, a PEG ratio of 1.44 and a beta of 1.14.

Analog Devices (NASDAQ:ADI – Get Rating) last released its earnings results on Wednesday, February 15th. The semiconductor company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.60 by $0.15. Analog Devices had a return on equity of 14.69% and a net margin of 27.27%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the firm posted $1.94 earnings per share. The firm’s revenue was up 21.1% on a year-over-year basis. As a group, analysts anticipate that Analog Devices, Inc. will post 10.6 EPS for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 8th. Investors of record on Monday, February 27th were paid a dividend of $0.86 per share. The ex-dividend date was Friday, February 24th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.76. This represents a $3.44 annualized dividend and a yield of 1.85%. Analog Devices’s dividend payout ratio is currently 51.89%.

Analog Devices Company Profile

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.