Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,242 shares of the semiconductor company’s stock after purchasing an additional 811 shares during the period. Sequoia Financial Advisors LLC’s holdings in Analog Devices were worth $2,813,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ADI. Swedbank AB lifted its position in shares of Analog Devices by 6.7% in the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after acquiring an additional 180,870 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Analog Devices by 7.7% in the 3rd quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company’s stock valued at $352,728,000 after acquiring an additional 110,448 shares in the last quarter. United Bank lifted its position in shares of Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock valued at $1,394,000 after acquiring an additional 273 shares in the last quarter. Sigma Planning Corp lifted its position in shares of Analog Devices by 32.5% in the 3rd quarter. Sigma Planning Corp now owns 3,121 shares of the semiconductor company’s stock valued at $718,000 after acquiring an additional 765 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in shares of Analog Devices by 5.8% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,737 shares of the semiconductor company’s stock valued at $630,000 after acquiring an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ:ADI opened at $208.75 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The firm’s fifty day simple moving average is $218.09 and its 200 day simple moving average is $220.66. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $103.53 billion, a PE ratio of 66.48, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the business posted $1.73 EPS. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.90%. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices announced that its board has initiated a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ADI shares. Wells Fargo & Company increased their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Morgan Stanley increased their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

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.