Analog Devices, Inc. (NASDAQ:ADI) Stock Position Reduced by Primecap Management Co. CA

Primecap Management Co. CA decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,523,385 shares of the semiconductor company's stock after selling 54,765 shares during the quarter. Primecap Management Co. CA owned about 0.71% of Analog Devices worth $748,578,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Hopwood Financial Services Inc. purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $30,000. Mainstream Capital Management LLC acquired a new position in Analog Devices during the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC grew its holdings in Analog Devices by 63.2% in 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 last quarter. Financial Life Planners purchased a new position in shares of Analog Devices in the fourth quarter valued at $33,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Analog Devices during the 4th quarter worth $41,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ADI shares. TD Cowen dropped their target price on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company raised their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Morgan Stanley increased their price objective on Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $255.41.

Remove Ads

Analog Devices Stock Down 0.7 %

Analog Devices stock traded down $1.50 during trading on Friday, reaching $204.40. 5,070,173 shares of the company's stock were exchanged, compared to its average volume of 3,108,301. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The firm 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. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company's 50-day moving average is $217.33 and its two-hundred day moving average is $220.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued 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 return on equity of 8.91% and a net margin of 16.75%. The company's revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is a boost from Analog Devices's previous quarterly dividend of $0.92. 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. Analog Devices's payout ratio is presently 126.11%.

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

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,000 shares of company stock worth $5,082,860. 0.33% of the stock is currently owned by company insiders.

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.