First Eagle Investment Management LLC Sells 953,284 Shares of Analog Devices, Inc. (NASDAQ:ADI)

First Eagle Investment Management LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,856,553 shares of the semiconductor company's stock after selling 953,284 shares during the period. First Eagle Investment Management LLC owned 0.58% of Analog Devices worth $606,903,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ADI. Brown Miller Wealth Management LLC lifted its holdings in shares of Analog Devices by 1.4% during the fourth quarter. Brown Miller Wealth Management LLC now owns 10,763 shares of the semiconductor company's stock worth $2,287,000 after purchasing an additional 153 shares during the period. Carret Asset Management LLC increased its stake in Analog Devices by 1.2% in the fourth quarter. Carret Asset Management LLC now owns 8,300 shares of the semiconductor company's stock valued at $1,763,000 after purchasing an additional 100 shares in the last quarter. Midwest Professional Planners LTD. increased its stake in Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after purchasing an additional 53 shares in the last quarter. Intact Investment Management Inc. increased its stake in Analog Devices by 571.9% in the fourth quarter. Intact Investment Management Inc. now owns 34,400 shares of the semiconductor company's stock valued at $7,309,000 after purchasing an additional 29,280 shares in the last quarter. Finally, LBP AM SA increased its position in shares of Analog Devices by 11.9% during the fourth quarter. LBP AM SA now owns 70,925 shares of the semiconductor company's stock worth $15,069,000 after acquiring an additional 7,522 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have recently commented on ADI shares. Oppenheimer reissued an "outperform" rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. UBS Group raised their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Benchmark raised their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $255.41.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred 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 directly owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.33% of the company's stock.

Analog Devices Stock Performance

ADI stock traded down $2.52 during midday trading on Tuesday, reaching $209.16. 2,657,007 shares of the company's stock traded hands, compared to its average volume of 3,100,512. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The stock has a market cap of $103.74 billion, a P/E ratio of 66.61, a PEG ratio of 2.85 and a beta of 1.07. 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's 50-day moving average is $217.96 and its 200 day moving average is $220.40.

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, topping analysts' consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company's revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. This is a positive change 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%. 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 authorized a share buyback program 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 programs are usually an indication that the company's board of directors believes its stock is 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.