Petros Family Wealth LLC Invests $847,000 in Analog Devices, Inc. (NASDAQ:ADI)

Petros Family Wealth LLC bought a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,987 shares of the semiconductor company's stock, valued at approximately $847,000. Analog Devices comprises approximately 0.9% of Petros Family Wealth LLC's holdings, making the stock its 29th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Analog Devices by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after buying an additional 413,084 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Analog Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after buying an additional 247,737 shares during the period. Franklin Resources Inc. grew its position in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares during the last quarter. Norges Bank bought a new position in shares of Analog Devices in the fourth quarter worth about $1,755,958,000. Finally, FMR LLC increased its position in shares of Analog Devices by 0.8% during the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock worth $1,582,831,000 after acquiring an additional 61,390 shares during the period. 86.81% of the stock is owned by institutional investors.

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Insider Buying and Selling at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 49,916 shares of the company's stock, 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. Insiders have sold 26,684 shares of company stock worth $5,591,600 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Analog Devices Price Performance

Shares of ADI traded down $0.56 during mid-day trading on Monday, hitting $178.60. 3,911,620 shares of the company were exchanged, compared to its average volume of 3,447,006. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. The company has a 50 day moving average of $208.27 and a 200-day moving average of $215.55. 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 stock has a market cap of $88.58 billion, a price-to-earnings ratio of 56.88, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share 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 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 company's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.73 earnings per share. Analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has approved a stock repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent research reports. Maxim Group began coverage on Analog Devices in a report on Friday, February 14th. They issued a "buy" rating for the company. UBS Group increased their price objective on Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Morgan Stanley upped their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted 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. 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, Analog Devices has a consensus rating of "Moderate Buy" and a consensus price target of $254.73.

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.