CoreCap Advisors LLC Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

CoreCap Advisors LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 75.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,129 shares of the semiconductor company's stock after selling 12,736 shares during the quarter. CoreCap Advisors LLC's holdings in Analog Devices were worth $877,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ADI. Principal Financial Group Inc. raised its position in shares of Analog Devices by 2.7% in the third quarter. Principal Financial Group Inc. now owns 605,596 shares of the semiconductor company's stock valued at $139,390,000 after buying an additional 16,051 shares in the last quarter. Nordea Investment Management AB increased its position in Analog Devices by 4.5% in the 4th quarter. Nordea Investment Management AB now owns 43,967 shares of the semiconductor company's stock valued at $9,381,000 after buying an additional 1,893 shares in the last quarter. Fulton Bank N.A. lifted its stake in shares of Analog Devices by 3.1% in the fourth quarter. Fulton Bank N.A. now owns 1,996 shares of the semiconductor company's stock valued at $424,000 after buying an additional 60 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Analog Devices by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 271,965 shares of the semiconductor company's stock worth $62,599,000 after purchasing an additional 1,055 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its stake in Analog Devices by 25.0% in the fourth quarter. ST Germain D J Co. Inc. now owns 6,361 shares of the semiconductor company's stock valued at $1,351,000 after acquiring an additional 1,274 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the sale, the director now directly owns 180,071 shares in the company, valued at $35,265,104.64. The trade was a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock worth $8,735,156 over the last three months. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

ADI has been the topic of several analyst reports. Stifel Nicolaus decreased their price target on Analog Devices from $275.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a research note on Wednesday, April 30th. Barclays cut their target price on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Maxim Group started coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Finally, Oppenheimer reissued an "outperform" rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $250.19.

Analog Devices Stock Performance

ADI stock traded up $3.53 during mid-day trading on Tuesday, reaching $226.68. 4,373,384 shares of the stock traded hands, compared to its average volume of 3,505,163. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The firm has a market capitalization of $112.43 billion, a PE ratio of 72.19, a P/E/G ratio of 2.85 and a beta of 0.98. The business has a 50-day moving average of $195.91 and a two-hundred day moving average of $210.40. 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 released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for 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%. Analog Devices's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.75%. 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. Analog Devices's payout ratio is 126.11%.

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.