Adams Diversified Equity Fund Inc. Lowers Position in Analog Devices, Inc. (NASDAQ:ADI)

Adams Diversified Equity Fund Inc. lessened its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 19.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,000 shares of the semiconductor company's stock after selling 19,100 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Analog Devices were worth $16,784,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB boosted its position in Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company's stock valued at $666,137,000 after acquiring an additional 180,870 shares in the last quarter. United Bank boosted its position in shares of Analog Devices by 4.7% during the third quarter. United Bank now owns 6,056 shares of the semiconductor company's stock valued at $1,394,000 after purchasing an additional 273 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Analog Devices by 2.4% in the third quarter. Thrivent Financial for Lutherans now owns 25,336 shares of the semiconductor company's stock worth $5,832,000 after purchasing an additional 582 shares during the period. Quest Partners LLC bought a new position in Analog Devices in the third quarter worth $210,000. Finally, PNC Financial Services Group Inc. raised its holdings in Analog Devices by 3.9% in the third quarter. PNC Financial Services Group Inc. now owns 149,813 shares of the semiconductor company's stock worth $34,482,000 after purchasing an additional 5,562 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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Analog Devices Price Performance

Shares of NASDAQ ADI traded up $1.24 during mid-day trading on Tuesday, reaching $213.58. The company's stock had a trading volume of 2,549,789 shares, compared to its average volume of 3,111,066. 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 $182.57 and a 52 week high of $247.10. The stock has a fifty day moving average of $217.16 and a two-hundred day moving average of $219.78. The firm has a market capitalization of $105.93 billion, a PE ratio of 68.02, a P/E/G ratio of 2.85 and a beta of 1.07.

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

Analog Devices announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. This is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Tuesday, March 4th. Analog Devices's payout ratio is currently 126.11%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares of the company's stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,000 shares of company stock valued at $5,082,860 in the last 90 days. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ADI. UBS Group upped their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Barclays lowered their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Williams Trading set a $245.00 price target on Analog Devices in a research note on Friday, February 14th. Finally, Oppenheimer reiterated an "outperform" rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.41.

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.