Analog Devices, Inc. (NASDAQ:ADI) Stake Lowered by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,120,160 shares of the semiconductor company's stock after selling 201,424 shares during the period. Ameriprise Financial Inc. owned 1.23% of Analog Devices worth $1,300,343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in Analog Devices in the fourth quarter worth about $30,000. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the 4th quarter worth $30,000. Cassady Schiller Wealth Management LLC lifted its stake in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares in the last quarter. Financial Life Planners acquired a new stake in Analog Devices in the 4th quarter worth about $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the 4th quarter worth approximately $41,000. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

ADI traded up $4.72 on Wednesday, hitting $200.32. 2,965,657 shares of the company's stock were exchanged, compared to its average volume of 3,475,741. 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 stock has a fifty day moving average of $197.51 and a two-hundred day moving average of $211.05. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The firm has a market cap of $99.35 billion, a PE ratio of 63.80, a P/E/G ratio of 2.85 and a beta of 0.98.

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 analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the business earned $1.73 EPS. The firm's revenue was down 3.6% on a year-over-year basis. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.98%. Analog Devices's payout ratio is currently 126.11%.

Analog Devices declared that its Board of Directors has initiated a share buyback program 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 programs are often a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

ADI has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their target price on shares of Analog Devices from $275.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. upped their price target on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Williams Trading set a $245.00 price objective on Analog Devices in a research report on Friday, February 14th. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Finally, Barclays dropped their target price on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Analog Devices has an average rating of "Moderate Buy" and a consensus price target of $250.43.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 in the company, valued at $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,809 shares of company stock valued at $8,123,156 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

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.