8,952 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,952 shares of the semiconductor company's stock, valued at approximately $1,902,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Analog Devices during the fourth quarter worth about $1,755,958,000. Raymond James Financial Inc. bought a new position in shares of Analog Devices in the 4th quarter worth $833,386,000. Proficio Capital Partners LLC raised its position in shares of Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after buying an additional 3,059,349 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Analog Devices by 301.1% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after acquiring an additional 1,186,981 shares during the last quarter. Finally, Madison Investment Advisors LLC purchased a new position in Analog Devices in the fourth quarter worth $111,470,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ADI. Oppenheimer reiterated an "outperform" rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Morgan Stanley set a $214.00 price objective on shares of Analog Devices in a research note on Monday, April 21st. Finally, Benchmark lifted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and a consensus price target of $250.43.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were 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 $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,809 shares of company stock worth $8,123,156. Company insiders own 0.33% of the company's stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $195.88 on Wednesday. The company has a market cap of $97.15 billion, a PE ratio of 62.38, a P/E/G ratio of 2.85 and a beta of 0.98. The business has a 50 day moving average of $197.51 and a 200 day moving average of $211.05. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS 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 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 in the prior year, the business earned $1.73 EPS. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current 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 given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 2.02%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices's payout ratio is presently 126.11%.

Analog Devices declared that its board has initiated a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication 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.

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