MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 431,504 shares of the semiconductor company's stock after selling 1,289 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.09% of Analog Devices worth $91,681,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in ADI. Czech National Bank lifted its stake in shares of Analog Devices by 6.5% in 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. Fiduciary Alliance LLC bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $1,317,000. Trust Co. of Toledo NA OH raised its holdings in shares of Analog Devices by 1.6% in the 4th quarter. Trust Co. of Toledo NA OH now owns 18,824 shares of the semiconductor company's stock worth $3,999,000 after purchasing an additional 293 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Analog Devices by 21.9% in the 4th quarter. Brookstone Capital Management now owns 1,889 shares of the semiconductor company's stock worth $401,000 after purchasing an additional 340 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in shares of Analog Devices by 7.6% in the 4th quarter. Capital Investment Advisors LLC now owns 1,020 shares of the semiconductor company's stock worth $217,000 after purchasing an additional 72 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. UBS Group cut their price target on shares of Analog Devices from $300.00 to $295.00 and set a "buy" rating on the stock in a report on Monday. Oppenheimer boosted their price target on shares of Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating on the stock. Benchmark boosted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $249.95.
Read Our Latest Analysis on ADI
Insider Transactions at Analog Devices
In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,934 shares of company stock worth $8,735,156. Insiders own 0.33% of the company's stock.
Analog Devices Stock Performance
Shares of NASDAQ ADI traded down $0.01 during trading hours on Friday, hitting $227.11. 3,617,772 shares of the stock were exchanged, compared to its average volume of 3,513,185. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company's 50 day moving average is $196.22 and its 200 day moving average is $210.61. The firm has a market capitalization of $112.64 billion, a P/E ratio of 72.33, a P/E/G ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10.
Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. On average, research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.
Analog Devices Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.74%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's dividend payout ratio is currently 126.11%.
Analog Devices announced that its board has authorized a share buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.
About Analog Devices
(
Free Report)
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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