Beacon Pointe Advisors LLC reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 29.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,154 shares of the semiconductor company's stock after selling 4,708 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Analog Devices were worth $2,370,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Broderick Brian C raised its holdings in Analog Devices by 2.6% in the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after acquiring an additional 2,017 shares in the last quarter. Curbstone Financial Management Corp bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $460,000. Czech National Bank raised its stake in shares of Analog Devices by 6.5% in the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock valued at $22,871,000 after purchasing an additional 6,566 shares in the last quarter. Synergy Asset Management LLC lifted its position in Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock worth $5,404,000 after purchasing an additional 2,554 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in Analog Devices during the third quarter worth $20,194,000. 86.81% of the stock is currently owned by institutional investors.
Analog Devices Trading Up 2.5 %
Analog Devices stock traded up $4.85 during mid-day trading on Friday, hitting $198.59. The stock had a trading volume of 3,795,868 shares, compared to its average volume of 3,481,356. The stock has a market capitalization of $98.50 billion, a PE ratio of 63.25, a P/E/G ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. 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 50-day simple moving average of $198.79 and a two-hundred day simple moving average of $211.48.
Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for 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 quarter last year, the firm earned $1.73 EPS. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.
Analog Devices Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a $0.99 dividend. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.
Analog Devices announced that its board has initiated a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on ADI shares. UBS Group increased their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price target on shares of Analog Devices from $275.00 to $225.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Citigroup decreased their price objective on Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Barclays dropped their target price on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Lake Street Capital began coverage on Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $250.43.
Check Out Our Latest Stock Analysis on Analog Devices
Insider Buying and Selling
In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the sale, the chief executive officer now owns 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This represents a 6.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,809 shares of company stock valued at $8,123,156 over the last three months. Company insiders own 0.33% of the company's stock.
About Analog Devices
(
Free Report)
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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