Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Horizon Investments LLC

Horizon Investments LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 52.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,662 shares of the semiconductor company's stock after purchasing an additional 8,123 shares during the quarter. Horizon Investments LLC's holdings in Analog Devices were worth $5,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ADI. Mainstream Capital Management LLC bought a new stake in Analog Devices during the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Analog Devices in the fourth quarter worth about $30,000. Cassady Schiller Wealth Management LLC raised its position in Analog Devices by 63.2% during the fourth 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. Financial Life Planners purchased a new stake in Analog Devices during the fourth quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insider Activity at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares of the company's stock, valued at $10,441,928.04. This represents a 7.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was 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 of the company's stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock valued at $5,082,860 in the last quarter. Insiders own 0.33% of the company's stock.

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Analog Devices Stock Down 0.7 %

Shares of ADI traded down $1.50 during midday trading on Friday, hitting $204.40. The company had a trading volume of 5,070,173 shares, compared to its average volume of 3,106,776. The company's 50 day moving average price is $217.17 and its 200 day moving average price is $219.84. The stock has a market cap of $101.38 billion, a price-to-earnings ratio of 65.10, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its 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 company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company's revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.73 EPS. On average, equities research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its board has approved a stock repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is currently 126.11%.

Analysts Set New Price Targets

A number of research firms have recently commented on ADI. Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. Maxim Group started coverage on Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Barclays reduced their target price on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Finally, Morgan Stanley raised their target price on Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $255.41.

Analog Devices Company 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.