Capital Group Private Client Services Inc. Trims Position in Analog Devices, Inc. (NASDAQ:ADI)

Capital Group Private Client Services Inc. lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,905 shares of the semiconductor company's stock after selling 8,386 shares during the period. Capital Group Private Client Services Inc.'s holdings in Analog Devices were worth $46,084,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Midwest Professional Planners LTD. boosted its stake in Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after acquiring an additional 53 shares in the last quarter. Portland Global Advisors LLC boosted its position in shares of Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after purchasing an additional 53 shares in the last quarter. NTV Asset Management LLC grew its stake in Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after buying an additional 54 shares during the last quarter. West Oak Capital LLC increased its position in Analog Devices by 0.4% during the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock valued at $2,658,000 after buying an additional 55 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC boosted 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 worth $30,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 86.81% of the company's stock.

Analog Devices Trading Up 4.1 %

Shares of ADI stock traded up $7.35 during trading hours on Wednesday, hitting $185.85. The company had a trading volume of 1,728,518 shares, compared to its average volume of 3,455,499. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a market capitalization of $92.18 billion, a PE ratio of 59.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The company's fifty day moving average is $204.78 and its 200 day moving average is $213.53. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10.

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

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

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 2.13%. Analog Devices's payout ratio is 126.11%.

Insider Activity

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the 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 transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the transaction, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,809 shares of company stock worth $6,154,756. Corporate insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

ADI has been the topic of several recent analyst reports. Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating on the stock. Stifel Nicolaus decreased their price target on shares of Analog Devices from $275.00 to $225.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Oppenheimer reissued an "outperform" rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Wells Fargo & Company raised their target price on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Finally, Barclays dropped their price target on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $250.43.

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.