Nuveen Asset Management LLC Has $684.35 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Nuveen Asset Management LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,221,053 shares of the semiconductor company's stock after acquiring an additional 266,532 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.65% of Analog Devices worth $684,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Analog Devices by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after acquiring an additional 413,084 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Analog Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after buying an additional 247,737 shares during the last quarter. Norges Bank acquired a new stake in Analog Devices during the fourth quarter worth about $1,755,958,000. FMR LLC boosted its stake in Analog Devices by 0.8% during the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock worth $1,582,831,000 after buying an additional 61,390 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Analog Devices by 8.4% in the fourth quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock valued at $1,173,026,000 after purchasing an additional 427,328 shares during the period. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the firm'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 transaction, the director now owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. This trade represents a 1.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock valued at $8,735,156 over the last ninety days. Insiders own 0.33% of the company's stock.

Analog Devices Stock Down 0.6%

Analog Devices stock traded down $1.28 during mid-day trading on Monday, reaching $225.83. 904,259 shares of the company were exchanged, compared to its average volume of 3,507,690. The business has a fifty day moving average of $196.58 and a 200 day moving average of $210.33. 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 market cap of $112.01 billion, a P/E ratio of 71.83, a PEG ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results 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. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the company posted $1.73 EPS. The company's revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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 outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is a boost from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's payout ratio is 126.11%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Maxim Group started coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Cantor Fitzgerald boosted their target price on shares of Analog Devices from $230.00 to $250.00 and gave the company a "neutral" rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Barclays lowered their price objective on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $249.95.

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.