Voya Investment Management LLC Cuts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Voya Investment Management LLC decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,937 shares of the semiconductor company's stock after selling 42,693 shares during the period. Voya Investment Management LLC's holdings in Analog Devices were worth $50,765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ADI. Broderick Brian C raised its stake in Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after buying an additional 2,017 shares in the last quarter. Curbstone Financial Management Corp purchased a new position in shares of Analog Devices during the 4th quarter worth approximately $460,000. Czech National Bank raised its position in shares of Analog Devices by 6.5% in the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock worth $22,871,000 after acquiring an additional 6,566 shares in the last quarter. Synergy Asset Management LLC lifted its stake in shares of Analog Devices by 11.1% in the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock valued at $5,404,000 after purchasing an additional 2,554 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Analog Devices during the third quarter valued at approximately $20,194,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analyst Ratings Changes

ADI has been the subject of a number of research reports. UBS Group increased their price objective on Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Maxim Group started coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating for the company. Oppenheimer reissued an "outperform" rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Barclays decreased their target price on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $250.43.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $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 worth $6,154,756 in the last three months. 0.33% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

Shares of ADI traded down $0.87 during mid-day trading on Monday, hitting $193.72. 3,400,777 shares of the company traded hands, compared to its average volume of 3,459,521. The stock has a market cap of $96.08 billion, a price-to-earnings ratio of 61.69, a P/E/G ratio of 2.85 and a beta of 1.06. The stock has a 50-day moving average price of $202.30 and a two-hundred day moving average price of $212.33. 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 earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. The business 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 company's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. Equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is an increase 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 2.04%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's payout ratio is currently 126.11%.

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.

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.