Meritage Group LP Decreases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Meritage Group LP cut its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 17.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 620,444 shares of the semiconductor company's stock after selling 134,780 shares during the period. Analog Devices accounts for approximately 3.1% of Meritage Group LP's portfolio, making the stock its 17th largest position. Meritage Group LP owned 0.13% of Analog Devices worth $131,820,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ADI. Hopwood Financial Services Inc. bought a new stake in Analog Devices in the fourth quarter worth $30,000. Mainstream Capital Management LLC purchased a new position in Analog Devices in the fourth quarter worth about $30,000. Cassady Schiller Wealth Management LLC lifted its stake in shares of 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 bought a new position in shares of Analog Devices in the fourth quarter worth approximately $33,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices in the 4th quarter worth $41,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Down 0.3 %

Analog Devices stock traded down $0.53 during trading hours on Friday, hitting $194.70. The company had a trading volume of 1,853,670 shares, compared to its average volume of 3,452,594. The firm has a market cap of $96.57 billion, a P/E ratio of 62.04, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a 50-day moving average price of $203.77 and a two-hundred day moving average price of $213.11. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the prior year, the firm earned $1.73 earnings per share. Analog Devices's revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its Board of Directors has initiated a share repurchase 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 typically a sign that the company's management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 2.03%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is 126.11%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm'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 transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, the director now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 29,809 shares of company stock valued at $6,154,756. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on ADI shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating for the company. Oppenheimer reiterated an "outperform" rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and an average target price of $250.43.

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.