Fifth Third Wealth Advisors LLC Acquires 4,371 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fifth Third Wealth Advisors LLC boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 46.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 13,688 shares of the semiconductor company's stock after acquiring an additional 4,371 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Analog Devices were worth $2,760,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ADI. Broderick Brian C lifted its holdings in Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after acquiring an additional 2,017 shares in the last quarter. Freestone Grove Partners LP bought a new position in Analog Devices in the fourth quarter valued at approximately $10,212,000. China Universal Asset Management Co. Ltd. lifted its stake in Analog Devices by 28.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,077 shares of the semiconductor company's stock valued at $1,716,000 after buying an additional 1,779 shares in the last quarter. Vest Financial LLC boosted its holdings in shares of Analog Devices by 47.7% in the fourth quarter. Vest Financial LLC now owns 6,977 shares of the semiconductor company's stock valued at $1,482,000 after buying an additional 2,252 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of Analog Devices by 2.0% during the fourth quarter. CIBC Asset Management Inc now owns 183,227 shares of the semiconductor company's stock worth $38,928,000 after acquiring an additional 3,529 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $2.98 during mid-day trading on Tuesday, reaching $218.43. 3,515,150 shares of the company were exchanged, compared to its average volume of 3,548,371. The stock has a market capitalization of $108.40 billion, a P/E ratio of 69.56, a P/E/G ratio of 2.85 and a beta of 0.98. 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 company's 50-day simple moving average is $198.27 and its 200-day simple moving average is $210.06. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the business posted $1.40 earnings per share. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Wednesday, June 4th. Analog Devices's dividend payout ratio is 107.90%.

Analog Devices announced that its board has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

ADI has been the subject of several recent research reports. Morgan Stanley reduced their price objective on Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. KGI Securities initiated coverage on Analog Devices in a research report on Friday, May 23rd. They set a "buy" rating for the company. Cowen reiterated a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $248.63.

Insiders Place Their Bets

In other news, 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 value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock worth $8,735,156 in the last 90 days. 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.