Point72 Europe London LLP Sells 37,345 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Point72 Europe London LLP lowered its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 32.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,300 shares of the semiconductor company's stock after selling 37,345 shares during the quarter. Point72 Europe London LLP's holdings in Analog Devices were worth $16,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of ADI. Hopwood Financial Services Inc. acquired a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $30,000. Cassady Schiller Wealth Management LLC grew its holdings in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares in the last quarter. Financial Life Planners acquired a new position in shares of Analog Devices in the 4th quarter valued at $33,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Analog Devices in the 4th quarter worth approximately $41,000. Institutional investors own 86.81% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on ADI. Oppenheimer reiterated an "outperform" rating and set a $270.00 price target (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Morgan Stanley set a $214.00 target price on shares of Analog Devices in a research report on Monday, April 21st. Citigroup lowered their price target on Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company lifted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. One equities research 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, Analog Devices currently has an average rating of "Moderate Buy" and a consensus price target of $250.20.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company's 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 sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the 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. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,934 shares of company stock valued at $8,735,156. Insiders own 0.33% of the company's stock.

Analog Devices Stock Up 0.1%

Analog Devices stock opened at $226.82 on Thursday. The stock has a market capitalization of $112.50 billion, a PE ratio of 72.24, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The business has a 50 day simple moving average of $196.01 and a 200-day simple moving average of $210.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. 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 quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm 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 company's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 EPS. On average, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal 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 issued a dividend of $0.99 per share. 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. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. Analog Devices's dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its Board of Directors has initiated a share buyback 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 repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analog Devices 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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