Artisan Partners Limited Partnership Trims Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Artisan Partners Limited Partnership lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 27.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 314,895 shares of the semiconductor company's stock after selling 121,986 shares during the period. Artisan Partners Limited Partnership owned about 0.06% of Analog Devices worth $66,903,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices during the 4th quarter valued at about $30,000. Hopwood Financial Services Inc. bought a new stake in Analog Devices during the 4th quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC boosted its position in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Financial Life Planners purchased a new position in shares of Analog Devices during the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices in the 4th quarter worth approximately $41,000. Institutional investors own 86.81% of the company's stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of several recent research reports. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Barclays reduced their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company lifted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. Lake Street Capital started coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a "buy" rating on the stock. Finally, UBS Group lifted their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.41.

Insiders Place Their Bets

In related news, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction 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 transaction, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,684 shares of company stock valued at $7,746,500 in the last three months. Corporate insiders own 0.33% of the company's stock.

Analog Devices Price Performance

Shares of ADI stock traded down $2.49 during trading hours on Tuesday, hitting $199.18. The stock had a trading volume of 3,382,827 shares, compared to its average volume of 3,291,349. The stock's 50-day moving average price is $215.71 and its two-hundred day moving average price is $219.17. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The stock has a market capitalization of $98.79 billion, a price-to-earnings ratio of 63.43, a PEG ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for 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 previous year, the company posted $1.73 EPS. Equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a dividend of $0.99 per share. 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 dividend on an annualized basis and a yield of 1.99%. Analog Devices's dividend payout ratio is presently 126.11%.

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

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.