Causeway Capital Management LLC Raises Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Causeway Capital Management LLC boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 7.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 366,558 shares of the semiconductor company's stock after purchasing an additional 25,842 shares during the period. Analog Devices comprises approximately 1.8% of Causeway Capital Management LLC's investment portfolio, making the stock its 12th biggest holding. Causeway Capital Management LLC owned approximately 0.07% of Analog Devices worth $77,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Broderick Brian C boosted its holdings in Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after buying an additional 2,017 shares in the last quarter. Curbstone Financial Management Corp acquired a new position in Analog Devices during the fourth quarter worth $460,000. Czech National Bank lifted its holdings in Analog Devices by 6.5% during the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock valued at $22,871,000 after purchasing an additional 6,566 shares in the last quarter. Synergy Asset Management LLC lifted its holdings in Analog Devices by 11.1% during the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock valued at $5,404,000 after purchasing an additional 2,554 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Analog Devices in the 3rd quarter valued at $20,194,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays decreased their price target on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. 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. Wells Fargo & Company boosted their target price on Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. 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, Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $254.05.

Insider Activity

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 64,918 shares of the company's stock, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,809 shares of company stock worth $6,154,756 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Stock Performance

Shares of Analog Devices stock traded up $0.34 during trading on Friday, reaching $176.27. The company's stock had a trading volume of 3,341,234 shares, compared to its average volume of 3,462,507. The firm has a market cap of $87.43 billion, a PE ratio of 56.14, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a 50-day moving average price of $206.00 and a two-hundred day moving average price of $214.33. 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 fifty-two week low of $158.65 and a fifty-two week high of $247.10.

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

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's dividend payout ratio is presently 126.11%.

Analog Devices declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

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.