HighTower Advisors LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 320,314 shares of the semiconductor company's stock after selling 2,943 shares during the quarter. HighTower Advisors LLC owned approximately 0.06% of Analog Devices worth $68,054,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in ADI. Swedbank AB boosted its holdings in shares of Analog Devices by 6.7% during the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company's stock worth $666,137,000 after purchasing an additional 180,870 shares during the period. Impax Asset Management Group plc raised its position in Analog Devices by 7.7% during 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 acquiring an additional 110,448 shares in the last quarter. United Bank raised its position in Analog Devices by 4.7% during the third quarter. United Bank now owns 6,056 shares of the semiconductor company's stock valued at $1,394,000 after acquiring an additional 273 shares in the last quarter. Sigma Planning Corp raised its position in Analog Devices by 32.5% during the third quarter. Sigma Planning Corp now owns 3,121 shares of the semiconductor company's stock valued at $718,000 after acquiring an additional 765 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its position in Analog Devices by 36.2% during the third quarter. Axxcess Wealth Management LLC now owns 3,545 shares of the semiconductor company's stock valued at $816,000 after acquiring an additional 943 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.33% of the company's stock.
Analog Devices Trading Down 1.2 %
Shares of ADI stock opened at $206.62 on Thursday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The firm's fifty day simple moving average is $218.37 and its 200 day simple moving average is $220.89. The firm has a market capitalization of $102.48 billion, a P/E ratio of 65.80, a price-to-earnings-growth 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.
Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the firm posted $1.73 earnings per share. Analog Devices's revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.
Analog Devices announced that its board has authorized a share buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.
Analog Devices Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.92%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's payout ratio is currently 126.11%.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. UBS Group raised their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. Lake Street Capital assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Morgan Stanley raised their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Barclays cut their price objective on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $255.41.
Check Out Our Latest Report on Analog Devices
Analog Devices Profile
(
Free Report)
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.
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