Puzo Michael J Has $11.26 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Puzo Michael J cut its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,979 shares of the semiconductor company's stock after selling 2,620 shares during the period. Analog Devices makes up approximately 3.1% of Puzo Michael J's holdings, making the stock its 11th biggest position. Puzo Michael J's holdings in Analog Devices were worth $11,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. United Bank boosted its position in shares of Analog Devices by 4.7% during the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company's stock valued at $1,394,000 after acquiring an additional 273 shares in the last quarter. Hilltop Holdings Inc. bought a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $570,000. Integrated Wealth Concepts LLC raised its holdings in shares of Analog Devices by 3.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,030 shares of the semiconductor company's stock worth $927,000 after buying an additional 118 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of Analog Devices by 14.8% during the 3rd quarter. IHT Wealth Management LLC now owns 5,523 shares of the semiconductor company's stock worth $1,266,000 after buying an additional 711 shares during the period. Finally, Royal London Asset Management Ltd. boosted its stake in Analog Devices by 2.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 253,876 shares of the semiconductor company's stock valued at $58,435,000 after buying an additional 5,462 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's 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 sale, 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. In the last three months, insiders sold 26,684 shares of company stock worth $5,591,600. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ADI shares. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 target price on shares of Analog Devices in a research note on Friday, February 14th. Oppenheimer restated an "outperform" rating and set a $270.00 price target (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Finally, Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating for the company. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $255.41.

Analog Devices Stock Up 2.7 %

Shares of NASDAQ:ADI traded up $4.42 during mid-day trading on Wednesday, reaching $170.51. 1,971,583 shares of the stock were exchanged, compared to its average volume of 3,386,064. The stock's 50 day simple moving average is $210.59 and its 200-day simple moving average is $217.05. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The company has a market cap of $84.57 billion, a P/E ratio of 53.96, a P/E/G ratio of 2.85 and a beta of 1.06. 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 (EPS) for the quarter, beating 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 business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. Analog Devices's quarterly revenue was down 3.6% on a year-over-year basis. As a group, 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 buyback plan 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 plans are typically a sign that the company's board believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is presently 126.11%.

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.