Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,891,194 shares of the semiconductor company's stock after purchasing an additional 47,468 shares during the quarter. Envestnet Asset Management Inc. owned 0.38% of Analog Devices worth $401,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. United Bank boosted its stake in shares of Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company's stock worth $1,394,000 after buying an additional 273 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Analog Devices by 3.0% in the third quarter. Integrated Wealth Concepts LLC now owns 4,030 shares of the semiconductor company's stock worth $927,000 after purchasing an additional 118 shares during the last quarter. Weiss Asset Management LP purchased a new stake in shares of Analog Devices during the 3rd quarter valued at about $2,198,000. Worldquant Millennium Advisors LLC bought a new position in shares of Analog Devices in the 3rd quarter worth approximately $11,045,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Analog Devices by 16.6% in the third quarter. Wellington Management Group LLP now owns 43,349 shares of the semiconductor company's stock worth $9,978,000 after buying an additional 6,164 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have commented on ADI. Morgan Stanley upped their target price on shares of Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Maxim Group initiated coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating for the company. Benchmark lifted their target price on Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Oppenheimer restated an "outperform" rating and issued a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $255.41.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's 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 completion of the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,684 shares of company stock valued at $5,591,600 in the last ninety days. Insiders own 0.33% of the company's stock.

Analog Devices Stock Down 1.2 %

Shares of ADI stock traded down $2.12 during trading hours on Friday, reaching $176.24. 2,822,672 shares of the stock were exchanged, compared to its average volume of 3,431,049. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The business's fifty day moving average is $209.43 and its two-hundred day moving average is $216.37. 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 firm has a market capitalization of $87.41 billion, a P/E ratio of 56.09, a P/E/G ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion for 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%. Analog Devices's quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.73 earnings per share. As a group, research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

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

Analog Devices declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are 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.