Zurich Insurance Group Ltd FI Lowers Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Zurich Insurance Group Ltd FI reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 43.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,958 shares of the semiconductor company's stock after selling 113,699 shares during the period. Zurich Insurance Group Ltd FI's holdings in Analog Devices were worth $32,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Broderick Brian C boosted its position in shares of 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 buying an additional 2,017 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Analog Devices during the fourth quarter worth $10,212,000. Curbstone Financial Management Corp purchased a new position in shares of Analog Devices during the fourth quarter worth $460,000. Synergy Asset Management LLC boosted its position in shares of Analog Devices by 11.1% during the fourth 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 during the period. Finally, RFG Advisory LLC boosted its position in shares of Analog Devices by 3.9% during the fourth quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company's stock worth $440,000 after buying an additional 77 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Down 0.7%

Analog Devices stock traded down $1.46 during midday trading on Friday, reaching $210.47. The company's stock had a trading volume of 4,848,121 shares, compared to its average volume of 3,517,234. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. 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 has a market cap of $104.39 billion, a P/E ratio of 67.03, a P/E/G ratio of 2.85 and a beta of 0.98. The business has a 50-day simple moving average of $197.66 and a 200-day simple moving average of $210.26.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the firm earned $1.40 earnings per share. Analog Devices's quarterly revenue was up 22.3% on a year-over-year basis. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share 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. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.

Analog Devices announced that its board has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADI. Maxim Group began coverage on Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. Stifel Nicolaus lifted their target price on Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Williams Trading set a $245.00 target price on Analog Devices in a report on Friday, February 14th. Benchmark decreased their target price on Analog Devices from $275.00 to $260.00 and set a "buy" rating for the company in a report on Friday. Finally, Morgan Stanley decreased their target price on Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $247.69.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the sale, the director now directly owns 180,071 shares of the company's stock, valued at $35,265,104.64. This represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer now directly owns 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. 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. Corporate insiders own 0.33% of the company's stock.

Analog Devices 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.