Janus Henderson Group PLC Sells 702,046 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Janus Henderson Group PLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 40.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,041,502 shares of the semiconductor company's stock after selling 702,046 shares during the period. Janus Henderson Group PLC owned 0.21% of Analog Devices worth $221,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Broderick Brian C increased its stake in Analog Devices by 2.6% during the 4th 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 during the period. Freestone Grove Partners LP bought a new position in Analog Devices during the 4th quarter worth $10,212,000. Curbstone Financial Management Corp bought a new position in Analog Devices during the 4th quarter worth $460,000. Czech National Bank increased its stake in Analog Devices by 6.5% during the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock worth $22,871,000 after acquiring an additional 6,566 shares during the period. Finally, Synergy Asset Management LLC grew its position in Analog Devices by 11.1% during the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock worth $5,404,000 after acquiring an additional 2,554 shares during the last quarter. Institutional investors own 86.81% of the company's stock.

Analog Devices Trading Up 0.1%

Shares of NASDAQ:ADI traded up $0.30 during midday trading on Thursday, reaching $227.12. The company's stock had a trading volume of 3,044,623 shares, compared to its average volume of 3,511,156. The firm has a market capitalization of $112.65 billion, a price-to-earnings ratio of 72.33, a PEG ratio of 2.85 and a beta of 0.98. 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 firm has a 50 day moving average price of $196.01 and a two-hundred day moving average price of $210.63. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10.

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

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.74%. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's payout ratio is presently 126.11%.

Analog Devices announced that its Board of Directors has approved a share repurchase program 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 programs are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of research reports. Barclays reduced their price objective on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley set a $214.00 price objective on Analog Devices in a research report on Monday, April 21st. Citigroup reduced their price objective on Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, UBS Group reduced their price objective on Analog Devices from $300.00 to $295.00 and set a "buy" rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and a consensus price target of $250.20.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. The trade was a 22.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock valued at $8,735,156 in the last three months. Corporate 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.