Voya Investment Management LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 15.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,937 shares of the semiconductor company's stock after selling 42,693 shares during the period. Voya Investment Management LLC's holdings in Analog Devices were worth $50,765,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Analog Devices during the fourth quarter worth approximately $1,755,958,000. Raymond James Financial Inc. purchased a new stake in shares of Analog Devices during the 4th quarter valued at $833,386,000. Proficio Capital Partners LLC increased its holdings in shares of Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock worth $652,943,000 after buying an additional 3,059,349 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock worth $2,169,689,000 after buying an additional 1,189,940 shares during the period. Finally, Madison Investment Advisors LLC acquired a new position in Analog Devices in the fourth quarter valued at $111,470,000. Hedge funds and other institutional investors own 86.81% of the company's stock.
Analog Devices Stock Performance
Shares of ADI traded up $0.18 during mid-day trading on Wednesday, hitting $192.85. The stock had a trading volume of 2,260,408 shares, compared to its average volume of 3,462,255. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company has a market cap of $95.65 billion, a PE ratio of 61.42, a PEG ratio of 2.85 and a beta of 1.06. The company's fifty day simple moving average is $201.27 and its two-hundred day simple moving average is $212.19.
Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The firm 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%. The firm's revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 earnings per share. On average, equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.
Analog Devices Increases Dividend
The business also recently announced 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. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 2.05%. Analog Devices's dividend payout ratio is 126.11%.
Analog Devices declared that its board has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several research firms recently commented on ADI. Maxim Group started coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a "buy" rating on the stock. Wells Fargo & Company boosted their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. Barclays dropped their target price on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Benchmark upped their price target on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and an average target price of $250.43.
Get Our Latest Stock Analysis on ADI
Insider Activity at Analog Devices
In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,809 shares of company stock worth $6,154,756 in the last 90 days. 0.33% of the stock is currently owned by company insiders.
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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