Benjamin Edwards Inc. lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,138 shares of the semiconductor company's stock after purchasing an additional 4,850 shares during the period. Benjamin Edwards Inc.'s holdings in Analog Devices were worth $20,428,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of ADI. Franklin Resources Inc. boosted its holdings in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares during the period. Principal Financial Group Inc. boosted its stake in Analog Devices by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 605,596 shares of the semiconductor company's stock valued at $139,390,000 after purchasing an additional 16,051 shares during the period. Versant Capital Management Inc increased its position in Analog Devices by 36.4% in the 4th quarter. Versant Capital Management Inc now owns 1,203 shares of the semiconductor company's stock worth $256,000 after buying an additional 321 shares during the period. GAMMA Investing LLC boosted its position in shares of Analog Devices by 5.1% in the fourth quarter. GAMMA Investing LLC now owns 8,653 shares of the semiconductor company's stock valued at $1,838,000 after acquiring an additional 416 shares during the period. Finally, Central Pacific Bank Trust Division grew its stake in shares of Analog Devices by 5.9% in the fourth quarter. Central Pacific Bank Trust Division now owns 1,346 shares of the semiconductor company's stock worth $286,000 after acquiring an additional 75 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.
Analog Devices Price Performance
Analog Devices stock traded up $4.72 during trading hours on Wednesday, hitting $200.32. 2,965,657 shares of the stock were exchanged, compared to its average volume of 3,475,741. The stock has a market capitalization of $99.35 billion, a P/E ratio of 63.80, a P/E/G ratio of 2.85 and a beta of 0.98. The business's 50-day moving average is $197.51 and its two-hundred day moving average is $211.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10.
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. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the company earned $1.73 EPS. Analog Devices's revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.
Analog Devices Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.98%. 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 currently 126.11%.
Analog Devices announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.
Analyst Ratings Changes
A number of brokerages have weighed in on ADI. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Citigroup reduced their target price on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Benchmark boosted their price target on Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. Finally, Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $250.43.
Read Our Latest Analysis on Analog Devices
Insiders Place Their Bets
In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated 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 trade represents a 1.65 % 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 the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,809 shares of company stock valued at $8,123,156 in the last 90 days. 0.33% of the stock is currently owned by insiders.
Analog Devices Profile
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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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