Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Farallon Capital Management LLC

Farallon Capital Management LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,157,200 shares of the semiconductor company's stock after selling 314,900 shares during the quarter. Analog Devices makes up about 1.2% of Farallon Capital Management LLC's holdings, making the stock its 27th biggest holding. Farallon Capital Management LLC owned about 0.23% of Analog Devices worth $245,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in Analog Devices by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 605,596 shares of the semiconductor company's stock worth $139,390,000 after purchasing an additional 16,051 shares in the last quarter. Nordea Investment Management AB boosted its stake 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 worth $9,381,000 after purchasing an additional 1,893 shares in the last quarter. Fulton Bank N.A. boosted its stake in Analog Devices by 3.1% in the 4th quarter. Fulton Bank N.A. now owns 1,996 shares of the semiconductor company's stock worth $424,000 after purchasing an additional 60 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Analog Devices by 0.4% in the 4th 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 in the last quarter. Finally, ST Germain D J Co. Inc. boosted its stake in Analog Devices by 25.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 6,361 shares of the semiconductor company's stock worth $1,351,000 after purchasing an additional 1,274 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

ADI traded up $15.64 during trading on Monday, reaching $223.15. 6,358,142 shares of the company traded hands, compared to its average volume of 3,496,925. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market cap of $110.68 billion, a P/E ratio of 71.07, a PEG ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The firm has a fifty day simple moving average of $196.04 and a 200 day simple moving average of $210.45.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (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 company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company earned $1.73 earnings per share. Analog Devices's revenue was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.77%. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

Analog Devices declared that its board has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding 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 typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ADI. UBS Group dropped their price target on shares of Analog Devices from $300.00 to $295.00 and set a "buy" rating on the stock in a research note on Monday. Williams Trading set a $245.00 price target on shares of Analog Devices in a research note on Friday, February 14th. Oppenheimer reiterated an "outperform" rating and issued a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Barclays lowered their target price on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $250.19.

Insider Activity

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,934 shares of company stock worth $8,735,156. Company 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.