Totem Point Management LLC Trims Stake in Analog Devices, Inc. (NASDAQ:ADI)

Totem Point Management LLC lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 71.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,847 shares of the semiconductor company's stock after selling 32,950 shares during the quarter. Analog Devices makes up 2.9% of Totem Point Management LLC's holdings, making the stock its 13th largest holding. Totem Point Management LLC's holdings in Analog Devices were worth $2,729,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Invst LLC raised its position in Analog Devices by 7.7% during the 3rd quarter. Invst LLC now owns 974 shares of the semiconductor company's stock valued at $224,000 after purchasing an additional 70 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in shares of Analog Devices by 4.1% during the third quarter. SkyView Investment Advisors LLC now owns 3,261 shares of the semiconductor company's stock valued at $751,000 after buying an additional 128 shares during the period. Anchor Investment Management LLC raised its holdings in shares of Analog Devices by 33.2% in the third quarter. Anchor Investment Management LLC now owns 2,485 shares of the semiconductor company's stock valued at $572,000 after acquiring an additional 619 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its stake in Analog Devices by 0.9% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,680 shares of the semiconductor company's stock worth $1,768,000 after acquiring an additional 65 shares during the period. Finally, World Investment Advisors LLC grew its holdings in Analog Devices by 4,581.5% during the 3rd quarter. World Investment Advisors LLC now owns 42,180 shares of the semiconductor company's stock worth $9,709,000 after acquiring an additional 41,279 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

ADI traded down $4.24 on Monday, reaching $190.35. 832,462 shares of the stock were exchanged, compared to its average volume of 3,449,418. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company's 50-day moving average price is $203.25 and its 200 day moving average price is $212.60. The firm has a market capitalization of $94.41 billion, a PE ratio of 60.59, a PEG ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its 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. 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 quarter in the previous year, the company posted $1.73 earnings per share. The company's revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is a boost from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.08%. Analog Devices's dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its Board of Directors has initiated a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADI. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Lake Street Capital began coverage on Analog Devices in a research note on Friday, February 14th. They set a "buy" rating for the company. Citigroup cut their target price on Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Stifel Nicolaus decreased 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. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $250.43.

Insider Buying and Selling at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, April 15th. The shares were 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 owns 186,321 shares in the company, valued at approximately $33,576,907.41. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 completion of the transaction, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,809 shares of company stock valued at $6,154,756. Corporate insiders own 0.33% of the company's stock.

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.