Capital International Investors Lowers Stake in Analog Devices, Inc. (NASDAQ:ADI)

Capital International Investors trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,188,106 shares of the semiconductor company's stock after selling 45,039 shares during the period. Capital International Investors owned about 0.64% of Analog Devices worth $677,349,000 as of its most recent SEC filing.

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

Analog Devices Price Performance

Shares of ADI stock traded up $4.61 on Wednesday, reaching $183.11. The company's stock had a trading volume of 4,188,214 shares, compared to its average volume of 3,464,946. The stock's fifty day simple moving average is $204.78 and its 200-day simple moving average is $213.53. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The company has a market capitalization of $90.82 billion, a price-to-earnings ratio of 58.32, a price-to-earnings-growth 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 (NASDAQ:ADI - Get Free Report) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping 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 firm had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the previous year, the business earned $1.73 EPS. The company's quarterly revenue was down 3.6% on a year-over-year basis. Analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 2.16%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is currently 126.11%.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the firm'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 transaction, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,809 shares of company stock worth $6,154,756. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ADI shares. Citigroup lowered their target price on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Williams Trading set a $245.00 target price on shares of Analog Devices in a report on Friday, February 14th. Stifel Nicolaus decreased their target price on shares of Analog Devices from $275.00 to $225.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. UBS Group raised their price target on Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Maxim Group assumed coverage on Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. Six equities 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, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.