3,484 Shares in Analog Devices, Inc. (NASDAQ:ADI) Acquired by Canopy Partners LLC

Canopy Partners LLC purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,484 shares of the semiconductor company's stock, valued at approximately $740,000.

Several other large investors have also made changes to their positions in the company. Bank of Montreal Can raised its position in shares of Analog Devices by 45.0% in the fourth quarter. Bank of Montreal Can now owns 917,764 shares of the semiconductor company's stock valued at $194,988,000 after purchasing an additional 284,965 shares during the period. FMR LLC grew its stake in Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock valued at $1,582,831,000 after buying an additional 61,390 shares during the last quarter. Titleist Asset Management LLC raised its holdings in Analog Devices by 51.3% in the 4th quarter. Titleist Asset Management LLC now owns 1,345 shares of the semiconductor company's stock worth $286,000 after acquiring an additional 456 shares during the period. Russell Investments Group Ltd. lifted its position in Analog Devices by 22.5% during the 4th quarter. Russell Investments Group Ltd. now owns 433,696 shares of the semiconductor company's stock worth $92,150,000 after acquiring an additional 79,648 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in Analog Devices by 10.3% during the fourth quarter. Wedbush Securities Inc. now owns 6,498 shares of the semiconductor company's stock valued at $1,380,000 after acquiring an additional 606 shares during the period. Institutional investors own 86.81% of the company's stock.

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Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $0.80 during trading on Friday, reaching $179.16. The stock had a trading volume of 6,528,835 shares, compared to its average volume of 3,444,715. The stock has a market capitalization of $88.86 billion, a PE ratio of 57.06, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The business's 50-day moving average price is $208.90 and its 200 day moving average price is $216.04.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business's revenue was down 3.6% on a year-over-year basis. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has initiated a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 2.21%. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio (DPR) is presently 126.11%.

Insiders Place Their Bets

In other news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction 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. The trade was a 22.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,684 shares of company stock valued at $5,591,600. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Maxim Group started coverage on Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. Wells Fargo & Company upped their price target on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Benchmark raised their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Finally, Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $254.73.

About Analog Devices

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.