Hilton Capital Management LLC Lowers Stake in Analog Devices, Inc. (NASDAQ:ADI)

Hilton Capital Management LLC lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,917 shares of the semiconductor company's stock after selling 2,369 shares during the period. Hilton Capital Management LLC's holdings in Analog Devices were worth $4,019,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mainstream Capital Management LLC purchased a new stake in Analog Devices during the 4th quarter valued at $30,000. Hopwood Financial Services Inc. purchased a new position in Analog Devices during the 4th quarter valued at about $30,000. Archer Investment Corp lifted its position in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 73 shares during the period. Financial Life Planners purchased a new position in Analog Devices during the 4th quarter valued at about $33,000. Finally, Kestra Investment Management LLC purchased a new position in Analog Devices during the 4th quarter valued at about $41,000. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

Shares of ADI stock traded down $2.52 during trading hours on Tuesday, reaching $209.16. The company had a trading volume of 2,657,007 shares, compared to its average volume of 3,100,512. 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 firm has a market cap of $103.74 billion, a PE ratio of 66.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The business has a fifty day moving average price of $217.96 and a 200-day moving average price of $220.40. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10.

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Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm's revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.73 earnings per share. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.89%. Analog Devices's dividend payout ratio (DPR) is presently 126.11%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares of the company's stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ADI. Oppenheimer reissued an "outperform" rating and set a $270.00 price target (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating 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 company a "buy" rating in a research note on Thursday, February 20th. Maxim Group began coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a "buy" rating for the company. Finally, Lake Street Capital began coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a "buy" rating for the company. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and a consensus 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.