Evoke Wealth LLC Has $7.22 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Evoke Wealth LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,001 shares of the semiconductor company's stock after selling 1,540 shares during the quarter. Evoke Wealth LLC's holdings in Analog Devices were worth $7,224,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ADI. State Street Corp boosted its stake in Analog Devices by 0.5% in the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company's stock worth $5,195,302,000 after purchasing an additional 106,664 shares during the period. Geode Capital Management LLC grew its position in shares of Analog Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company's stock worth $2,377,094,000 after buying an additional 135,838 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares in the last quarter. FMR LLC boosted its position in shares of Analog Devices by 9.9% during the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company's stock valued at $1,700,640,000 after purchasing an additional 665,149 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Analog Devices by 4.8% during the fourth quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company's stock valued at $1,058,364,000 after buying an additional 226,716 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

ADI has been the subject of several recent analyst reports. Barclays decreased their price target on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. boosted their price target on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. TD Cowen dropped their price objective on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Benchmark increased their price target on Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research note 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 stock. Based on data from MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.41.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares of the company's stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,000 shares of company stock valued at $5,082,860 in the last ninety days. Insiders own 0.33% of the company's stock.

Analog Devices Trading Down 0.7 %

Shares of NASDAQ:ADI traded down $1.50 during mid-day trading on Friday, hitting $204.40. The stock had a trading volume of 5,070,173 shares, compared to its average volume of 3,106,776. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market cap of $101.38 billion, a PE ratio of 65.10, a P/E/G ratio of 2.85 and a beta of 1.07. The company's 50 day moving average is $217.17 and its 200-day moving average is $219.84.

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, beating analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the business posted $1.73 EPS. Analog Devices's revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.94%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is presently 126.11%.

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