Insigneo Advisory Services LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 53.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,855 shares of the semiconductor company's stock after selling 2,150 shares during the quarter. Insigneo Advisory Services LLC's holdings in Analog Devices were worth $394,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Main Street Financial Solutions LLC purchased a new position in Analog Devices in the 4th quarter valued at about $300,000. United Capital Financial Advisors LLC boosted its holdings in Analog Devices by 38.3% in the fourth quarter. United Capital Financial Advisors LLC now owns 58,709 shares of the semiconductor company's stock valued at $12,473,000 after purchasing an additional 16,254 shares during the last quarter. Delaney Dennis R grew its stake in Analog Devices by 1.7% during the 4th quarter. Delaney Dennis R now owns 30,270 shares of the semiconductor company's stock valued at $6,431,000 after purchasing an additional 495 shares in the last quarter. Jump Financial LLC increased its holdings in Analog Devices by 4.0% during the 4th quarter. Jump Financial LLC now owns 1,888 shares of the semiconductor company's stock worth $401,000 after purchasing an additional 73 shares during the last quarter. Finally, Dagco Inc. raised its position in shares of Analog Devices by 0.7% in the 4th quarter. Dagco Inc. now owns 10,748 shares of the semiconductor company's stock valued at $2,284,000 after purchasing an additional 78 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ADI has been the topic of a number of research analyst reports. Maxim Group began coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a "buy" rating on the stock. Citigroup cut their price objective on Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. Benchmark raised their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and a consensus price target of $250.43.
Check Out Our Latest Report on Analog Devices
Insider Transactions at Analog Devices
In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now directly owns 186,321 shares of the company's stock, valued at $33,576,907.41. The trade was a 1.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,809 shares of company stock valued at $6,154,756 in the last three months. 0.33% of the stock is currently owned by corporate insiders.
Analog Devices Price Performance
NASDAQ ADI traded up $5.84 on Wednesday, reaching $184.34. 1,493,268 shares of the stock traded hands, compared to its average volume of 3,454,367. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a market cap of $91.43 billion, a price-to-earnings ratio of 58.71, a P/E/G ratio of 2.85 and a beta of 1.06. The firm's fifty day simple moving average is $204.78 and its 200 day simple moving average is $213.53. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.
Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 earnings per share. As a group, research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.
Analog Devices Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is 126.11%.
Analog Devices declared that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
About Analog Devices
(
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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