Causeway Capital Management LLC Purchases 25,842 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Causeway Capital Management LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 366,558 shares of the semiconductor company’s stock after buying an additional 25,842 shares during the quarter. Analog Devices comprises approximately 1.8% of Causeway Capital Management LLC’s investment portfolio, making the stock its 12th biggest holding. Causeway Capital Management LLC owned about 0.07% of Analog Devices worth $77,879,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ADI. Comgest Global Investors S.A.S. grew its stake in shares of Analog Devices by 1.6% during the fourth quarter. Comgest Global Investors S.A.S. now owns 941,630 shares of the semiconductor company’s stock worth $200,059,000 after purchasing an additional 14,723 shares during the period. Cohen & Steers Inc. boosted its stake in Analog Devices by 5.9% during the 4th quarter. Cohen & Steers Inc. now owns 1,511 shares of the semiconductor company’s stock worth $321,000 after acquiring an additional 84 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its holdings in Analog Devices by 1.2% during the fourth quarter. Reynders McVeigh Capital Management LLC now owns 260,654 shares of the semiconductor company’s stock valued at $55,378,000 after purchasing an additional 3,160 shares during the period. SageView Advisory Group LLC increased its stake in Analog Devices by 2.3% in the fourth quarter. SageView Advisory Group LLC now owns 4,244 shares of the semiconductor company’s stock valued at $902,000 after purchasing an additional 97 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in shares of Analog Devices by 3.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 25,669 shares of the semiconductor company’s stock worth $5,454,000 after purchasing an additional 803 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of Analog Devices 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,684 shares of company stock worth $5,591,600 in the last quarter. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Maxim Group began coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. UBS Group upped their price target on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley lifted their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Benchmark increased their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $254.73.

Analog Devices Stock Performance

Shares of ADI stock opened at $179.16 on Monday. The business’s 50-day moving average price is $208.90 and its 200-day moving average price is $215.92. The firm has a market capitalization of $88.86 billion, a price-to-earnings ratio of 57.06, a PEG ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results 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 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 company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 earnings per share. Equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its board has approved a stock repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently declared 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 dividend yield of 2.21%. 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 presently 126.11%.

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.