Ascent Group LLC Trims Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Ascent Group LLC decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 49.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,721 shares of the semiconductor company's stock after selling 7,417 shares during the quarter. Ascent Group LLC's holdings in Analog Devices were worth $1,640,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Broderick Brian C boosted its position in shares of Analog Devices by 2.6% during 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 during the last quarter. Freestone Grove Partners LP purchased a new stake in Analog Devices during the fourth quarter valued at $10,212,000. Curbstone Financial Management Corp bought a new position in Analog Devices during the fourth quarter valued at $460,000. Synergy Asset Management LLC grew its stake in shares of Analog Devices by 11.1% in the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock worth $5,404,000 after buying an additional 2,554 shares in the last quarter. Finally, RFG Advisory LLC grew its stake in shares of Analog Devices by 3.9% in the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company's stock worth $440,000 after buying an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analyst Ratings Changes

ADI has been the subject of a number of analyst reports. Evercore ISI increased their price target on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a "buy" rating for the company. TD Cowen increased their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, KGI Securities started coverage on shares of Analog Devices in a report on Friday, May 23rd. They set a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $248.63.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at approximately $10,441,928.04. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock worth $8,735,156 over the last three months. Corporate insiders own 0.33% of the company's stock.

Analog Devices Stock Down 0.6%

Shares of NASDAQ ADI traded down $1.27 during midday trading on Wednesday, reaching $215.62. 3,717,590 shares of the company's stock traded hands, compared to its average volume of 3,530,055. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock's 50 day simple moving average is $197.89 and its 200-day simple moving average is $210.07. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The company has a market cap of $106.94 billion, a price-to-earnings ratio of 68.67, a P/E/G ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm earned $1.40 earnings per share. The company's quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.84%. Analog Devices's payout ratio is 107.90%.

Analog Devices declared that its board has initiated a share buyback program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.