Point72 Asset Management L.P. Invests $63.67 Million in Analog Devices, Inc. (NASDAQ:ADI)

Point72 Asset Management L.P. purchased a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 299,694 shares of the semiconductor company's stock, valued at approximately $63,673,000. Point72 Asset Management L.P. owned about 0.06% of Analog Devices as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Midwest Professional Planners LTD. lifted its stake in Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after purchasing an additional 53 shares during the last quarter. Portland Global Advisors LLC raised its holdings in Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after acquiring an additional 53 shares during the period. NTV Asset Management LLC lifted its position in Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after acquiring an additional 54 shares during the last quarter. Cassady Schiller Wealth Management LLC grew its stake in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 55 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC increased its holdings in shares of Analog Devices by 4.3% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,406 shares of the semiconductor company's stock worth $299,000 after purchasing an additional 58 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ADI shares. Stifel Nicolaus reduced their price objective on shares of Analog Devices from $275.00 to $225.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. Williams Trading set a $245.00 price objective on shares of Analog Devices in a report on Friday, February 14th. Maxim Group started coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Finally, Wells Fargo & Company raised their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating 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 given a buy rating to the company's stock. Based on data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and an average target price of $250.20.

Insider Transactions at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares in the company, 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 have sold a total of 42,934 shares of company stock valued at $8,735,156 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Stock Up 0.1%

Shares of NASDAQ:ADI opened at $227.12 on Friday. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The stock has a market cap of $112.65 billion, a price-to-earnings ratio of 72.33, a P/E/G ratio of 2.85 and a beta of 0.98. 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 has a 50 day moving average of $196.22 and a 200-day moving average of $210.61.

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

Analog Devices Increases Dividend

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

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

Analog Devices Company 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.

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