3G Capital Partners LP Sells 30,000 Shares of Analog Devices, Inc. (NASDAQ:ADI)

3G Capital Partners LP reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 18.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,000 shares of the semiconductor company's stock after selling 30,000 shares during the period. Analog Devices comprises approximately 8.2% of 3G Capital Partners LP's holdings, making the stock its 5th biggest position. 3G Capital Partners LP's holdings in Analog Devices were worth $28,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock worth $10,432,961,000 after purchasing an additional 413,084 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Analog Devices by 2.4% in the 4th 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 shares of Analog Devices by 14.9% during 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 buying an additional 1,189,940 shares during the last quarter. Norges Bank acquired a new stake in Analog Devices during the fourth quarter worth about $1,755,958,000. Finally, FMR LLC lifted its holdings in Analog Devices by 0.8% in 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 last quarter. Institutional investors own 86.81% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ADI shares. Morgan Stanley set a $214.00 price target on Analog Devices in a research report on Monday, April 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. Barclays reduced 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. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Finally, Williams Trading set a $245.00 price objective on shares of Analog Devices in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $250.43.

Insiders Place Their Bets

In related 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 sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the business's 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 transaction, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,809 shares of company stock worth $8,123,156 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Analog Devices Price Performance

NASDAQ:ADI traded down $0.87 during trading hours on Monday, reaching $197.72. 2,022,494 shares of the company's stock were exchanged, compared to its average volume of 3,475,520. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $98.06 billion, a P/E ratio of 62.97, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The business's 50-day simple moving average is $198.79 and its two-hundred day simple moving average is $211.37.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company's revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company posted $1.73 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 2.00%. Analog Devices's dividend payout ratio is currently 126.11%.

Analog Devices announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Analog Devices Company Profile

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.