Erste Asset Management GmbH Decreases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Erste Asset Management GmbH reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 28.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,029 shares of the semiconductor company's stock after selling 7,440 shares during the quarter. Erste Asset Management GmbH's holdings in Analog Devices were worth $4,129,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Swedbank AB grew its position in shares of Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company's stock valued at $666,137,000 after acquiring an additional 180,870 shares during the period. Impax Asset Management Group plc grew its holdings in Analog Devices by 7.7% in the third quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company's stock valued at $352,728,000 after purchasing an additional 110,448 shares during the period. United Bank increased its position in shares of Analog Devices by 4.7% in the third quarter. United Bank now owns 6,056 shares of the semiconductor company's stock valued at $1,394,000 after buying an additional 273 shares in the last quarter. Sigma Planning Corp raised its stake in shares of Analog Devices by 32.5% during the 3rd quarter. Sigma Planning Corp now owns 3,121 shares of the semiconductor company's stock worth $718,000 after buying an additional 765 shares during the period. Finally, Ashton Thomas Private Wealth LLC lifted its position in shares of Analog Devices by 5.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,737 shares of the semiconductor company's stock valued at $630,000 after buying an additional 151 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, 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 value of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.

Analog Devices Trading Up 0.4 %

ADI stock traded up $0.81 during midday trading on Wednesday, hitting $209.97. 2,571,765 shares of the company's stock were exchanged, compared to its average volume of 3,097,797. The business has a 50-day simple moving average of $217.83 and a two-hundred day simple moving average of $220.22. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $104.14 billion, a PE ratio of 66.87, a P/E/G ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The company 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 firm's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 earnings per share. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced 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 shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed 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 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 1.89%. Analog Devices's payout ratio is presently 126.11%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Benchmark raised their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Morgan Stanley boosted their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Lake Street Capital began coverage on Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating on the stock. Finally, UBS Group raised their target price on Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and an average target price of $255.41.

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.