Analog Devices, Inc. (NASDAQ:ADI) is Manchester Global Management UK Ltd's 4th Largest Position

Manchester Global Management UK Ltd increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 28.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 248,524 shares of the semiconductor company's stock after purchasing an additional 55,253 shares during the quarter. Analog Devices makes up about 7.0% of Manchester Global Management UK Ltd's investment portfolio, making the stock its 4th biggest holding. Manchester Global Management UK Ltd owned 0.05% of Analog Devices worth $52,801,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Broderick Brian C boosted its holdings in Analog Devices by 2.6% in the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after purchasing an additional 2,017 shares during the period. Curbstone Financial Management Corp acquired a new position in Analog Devices in the 4th quarter valued at approximately $460,000. Czech National Bank raised its position in Analog Devices by 6.5% during the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock worth $22,871,000 after purchasing an additional 6,566 shares during the last quarter. Synergy Asset Management LLC boosted its holdings in Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock valued at $5,404,000 after acquiring an additional 2,554 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Analog Devices during the third quarter worth $20,194,000. Institutional investors own 86.81% of the company's stock.

Insider Buying and Selling

In other news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares in the company, valued at approximately $33,576,907.41. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,809 shares of company stock valued at $6,154,756 in the last 90 days. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ADI shares. Benchmark increased their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Stifel Nicolaus cut their price target on shares of Analog Devices from $275.00 to $225.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Barclays reduced their price objective on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a research note on Tuesday. Lake Street Capital assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a "buy" rating on the stock. Finally, Citigroup dropped their price objective on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and a consensus target price of $250.43.

Analog Devices Trading Down 0.3 %

NASDAQ:ADI traded down $0.64 during midday trading on Friday, hitting $194.59. 3,206,761 shares of the company traded hands, compared to its average volume of 3,458,453. The firm's fifty day moving average is $203.77 and its 200-day moving average is $213.11. The firm has a market capitalization of $96.51 billion, a P/E ratio of 61.97, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

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

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. 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 2.04%. Analog Devices's dividend payout ratio is presently 126.11%.

Analog Devices 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.