Private Advisor Group LLC Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Private Advisor Group LLC reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,444 shares of the semiconductor company’s stock after selling 492 shares during the period. Private Advisor Group LLC’s holdings in Analog Devices were worth $4,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after buying an additional 39,186 shares in the last quarter. Swiss National Bank boosted its position in shares of Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after acquiring an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares during the period. Curbstone Financial Management Corp acquired a new stake in Analog Devices during the fourth quarter worth about $460,000. Finally, Summit Global Investments purchased a new position in Analog Devices during the third quarter worth about $867,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Down 2.0 %

NASDAQ:ADI opened at $238.91 on Friday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The firm has a market cap of $118.49 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $215.50 and a 200 day moving average price of $220.34.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.66%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 117.20%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ADI shares. Wells Fargo & Company raised their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday. Maxim Group began coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Morgan Stanley upped their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group raised their price objective on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

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.