Prudential PLC Sells 5,164 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Prudential PLC lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 32.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,878 shares of the semiconductor company's stock after selling 5,164 shares during the period. Prudential PLC's holdings in Analog Devices were worth $2,311,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Analog Devices during the fourth quarter valued at approximately $1,755,958,000. Raymond James Financial Inc. acquired a new position in shares of Analog Devices during the 4th quarter valued at $833,386,000. Proficio Capital Partners LLC raised its stake in shares of Analog Devices by 22,005.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock worth $652,943,000 after buying an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the period. Finally, Madison Investment Advisors LLC bought a new position in Analog Devices during the fourth quarter valued at about $111,470,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the 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 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 this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred on 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 directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,684 shares of company stock worth $5,591,600 in the last quarter. 0.33% of the stock is currently owned by company insiders.

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Analog Devices Stock Down 1.3 %

Shares of NASDAQ ADI traded down $2.30 during trading hours on Friday, hitting $176.06. The stock had a trading volume of 2,250,977 shares, compared to its average volume of 3,428,328. The company has a market capitalization of $87.32 billion, a P/E ratio of 56.19, a P/E/G ratio of 2.85 and a beta of 1.06. The firm's 50-day moving average price is $209.43 and its two-hundred day moving average price is $216.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 EPS. Analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

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

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 2.25%. Analog Devices's dividend payout ratio (DPR) is presently 126.11%.

Analyst Upgrades and Downgrades

ADI has been the topic of several research reports. Lake Street Capital initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating on the stock. Wells Fargo & Company increased their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Benchmark raised their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Morgan Stanley upped their price target on Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, UBS Group raised their price objective on Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.