Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,523,385 shares of the semiconductor company’s stock after selling 54,765 shares during the period. Primecap Management Co. CA’s holdings in Analog Devices were worth $748,578,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ADI. Raymond James Financial Inc. acquired a new stake in shares of Analog Devices during the 4th quarter worth about $833,386,000. Proficio Capital Partners LLC boosted its stake 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 purchasing an additional 3,059,349 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after purchasing an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of Analog Devices by 336.4% during the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after acquiring an additional 823,709 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Up 1.4 %

ADI stock opened at $211.68 on Tuesday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve 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. The company has a market capitalization of $104.99 billion, a P/E ratio of 67.41, a PEG ratio of 2.85 and a beta of 1.07. The firm has a 50 day simple moving average of $217.96 and a 200-day simple moving average of $220.40.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share 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 business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the company earned $1.73 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Tuesday, March 4th. This is an increase 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 initiated a share 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 repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ADI shares. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Maxim Group started coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Wells Fargo & Company increased 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. Williams Trading set a $245.00 price objective on shares of Analog Devices in a report on Friday, February 14th. Finally, Barclays cut their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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 stock was 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 approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

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.