Sound Shore Management Inc. CT decreased its stake in Analog Devices Inc. (NASDAQ:ADI) by 14.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,143,199 shares of the company’s stock after selling 363,615 shares during the period. Sound Shore Management Inc. CT’s holdings in Analog Devices were worth $138,129,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ADI. Ladenburg Thalmann Financial Services Inc. boosted its stake in Analog Devices by 39.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,556 shares of the company’s stock worth $507,000 after buying an additional 2,433 shares during the period. First Republic Investment Management Inc. boosted its stake in Analog Devices by 74.8% in the first quarter. First Republic Investment Management Inc. now owns 52,024 shares of the company’s stock worth $3,078,000 after buying an additional 22,258 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Analog Devices by 2.2% in the second quarter. BNP Paribas Arbitrage SA now owns 115,874 shares of the company’s stock worth $6,563,000 after buying an additional 2,538 shares during the period. British Columbia Investment Management Corp boosted its stake in Analog Devices by 4.7% in the second quarter. British Columbia Investment Management Corp now owns 191,973 shares of the company’s stock worth $10,873,000 after buying an additional 8,558 shares during the period. Finally, Daiwa SB Investments Ltd. boosted its stake in Analog Devices by 4.9% in the second quarter. Daiwa SB Investments Ltd. now owns 175,880 shares of the company’s stock worth $9,803,000 after buying an additional 8,280 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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

Analog Devices Inc. (NASDAQ:ADI) opened at 74.24 on Thursday. Analog Devices Inc. has a 12-month low of $47.24 and a 12-month high of $74.87. The company has a market cap of $22.88 billion, a P/E ratio of 26.90 and a beta of 1.18. The stock’s 50 day moving average is $65.32 and its 200 day moving average is $61.66.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.16. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The company earned $1 million during the quarter, compared to the consensus estimate of $941.92 million. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices Inc. will post $3.40 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Friday, December 2nd will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, November 30th. Analog Devices’s dividend payout ratio is 60.87%.

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A number of research firms have recently weighed in on ADI. B. Riley reaffirmed a “buy” rating and set a $74.00 price target on shares of Analog Devices in a report on Saturday, August 20th. KeyCorp lifted their price target on Analog Devices from $77.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, November 23rd. Robert W. Baird lifted their price target on Analog Devices from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, November 23rd. MKM Partners lifted their price target on Analog Devices from $67.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, November 23rd. Finally, Zacks Investment Research cut Analog Devices from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $73.97.

In related news, Director John C. Hodgson sold 5,000 shares of the stock in a transaction on Monday, November 28th. The shares were sold at an average price of $73.95, for a total transaction of $369,750.00. Following the completion of the transaction, the director now owns 15,985 shares in the company, valued at $1,182,090.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Hodgson sold 7,500 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $64.42, for a total transaction of $483,150.00. Following the transaction, the director now owns 18,485 shares of the company’s stock, valued at approximately $1,190,803.70. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

About Analog Devices

Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.

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