Fosun International Ltd Decreases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Fosun International Ltd cut its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 81.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,333 shares of the semiconductor company's stock after selling 5,689 shares during the period. Fosun International Ltd's holdings in Analog Devices were worth $283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Analog Devices during the fourth quarter worth about $1,755,958,000. Raymond James Financial Inc. purchased a new position in shares of Analog Devices during the 4th quarter worth approximately $833,386,000. Proficio Capital Partners LLC raised its position in shares of Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock worth $652,943,000 after purchasing an additional 3,059,349 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in Analog Devices by 301.1% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after buying an additional 1,186,981 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Analog Devices by 71.0% during the 4th quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock valued at $458,683,000 after buying an additional 896,694 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Seaport Res Ptn raised Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. Lake Street Capital assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a "buy" rating on the stock. Barclays lowered their price target on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company upped their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Finally, Benchmark lifted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. One investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $250.43.

Analog Devices Price Performance

ADI opened at $207.51 on Friday. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The company has a 50 day moving average of $196.04 and a two-hundred day moving average of $210.70. The company has a market cap of $102.92 billion, a P/E ratio of 66.09, 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.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm's revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. On average, analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.91%. Analog Devices's dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, 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 transaction, the executive vice president now 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the 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 directly owns 64,918 shares of the company's stock, valued at $13,575,652.16. This 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 over 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.

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