Meridiem Capital Partners LP Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Meridiem Capital Partners LP bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 108,227 shares of the semiconductor company's stock, valued at approximately $22,994,000. Analog Devices makes up 2.0% of Meridiem Capital Partners LP's investment portfolio, making the stock its 21st biggest holding.

A number of other large investors have also recently added to or reduced their stakes in ADI. Midwest Professional Planners LTD. increased its stake in shares of Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after acquiring an additional 53 shares during the last quarter. Portland Global Advisors LLC raised its holdings in shares of Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after purchasing an additional 53 shares during the period. NTV Asset Management LLC lifted its position in Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after buying an additional 54 shares in the last quarter. West Oak Capital LLC boosted its position in Analog Devices by 0.4% during the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock worth $2,658,000 after purchasing an additional 55 shares during the period. Finally, Cassady Schiller Wealth Management LLC boosted its position 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 during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company'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 value of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This represents a 13.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock worth $8,735,156 in the last ninety days. 0.33% of the stock is owned by insiders.

Analog Devices Stock Performance

NASDAQ ADI traded down $0.01 during trading hours on Friday, reaching $227.11. The company's stock had a trading volume of 3,617,772 shares, compared to its average volume of 3,513,185. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $196.22 and a 200 day simple moving average of $210.61. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The stock has a market cap of $112.64 billion, a PE ratio of 72.33, a PEG ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $2.42 billion for 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 was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.73 EPS. Equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has initiated 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 purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio (DPR) is 126.11%.

Analysts Set New Price Targets

ADI has been the topic of several analyst reports. UBS Group dropped their target price on Analog Devices from $300.00 to $295.00 and set a "buy" rating on the stock in a report on Monday. Barclays lowered their price target on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. raised their target price on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Finally, Oppenheimer increased their price target on Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $249.95.

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.