Intech Investment Management LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 51.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,245 shares of the semiconductor company's stock after selling 6,632 shares during the period. Intech Investment Management LLC's holdings in Analog Devices were worth $1,327,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mainstream Capital Management LLC purchased a new position in Analog Devices during the 4th quarter valued at $30,000. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices during the fourth quarter valued at about $30,000. Cassady Schiller Wealth Management LLC raised its stake in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares in the last quarter. Financial Life Planners purchased a new stake in Analog Devices in the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC bought a new stake in Analog Devices during the 4th quarter valued at approximately $41,000. Institutional investors own 86.81% of the company's stock.
Insiders Place Their Bets
In related news, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company's stock in a transaction 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 sale, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,684 shares of company stock worth $7,746,500. Corporate insiders own 0.33% of the company's stock.
Analog Devices Stock Performance
ADI traded down $3.05 during mid-day trading on Wednesday, reaching $210.53. 2,452,928 shares of the company traded hands, compared to its average volume of 3,780,283. 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, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The stock has a market capitalization of $104.42 billion, a P/E ratio of 67.05, a P/E/G ratio of 2.85 and a beta of 1.07. The company's fifty day moving average price is $217.13 and its 200-day moving average price is $219.78.
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, beating the consensus estimate of $1.54 by $0.09. The company 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 firm's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 earnings per share. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.
Analog Devices announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
Analog Devices Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is a boost 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 1.88%. Analog Devices's dividend payout ratio is 126.11%.
Analyst Ratings Changes
A number of research firms have recently commented on ADI. Wells Fargo & Company raised their target price on Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Barclays lowered their price objective on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Maxim Group initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating for the company. 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. Finally, TD Cowen cut their price objective on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.41.
View Our Latest Stock Analysis 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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