Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Accredited Investors Inc.

Accredited Investors Inc. lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 25.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,980 shares of the semiconductor company’s stock after selling 1,035 shares during the quarter. Accredited Investors Inc.’s holdings in Analog Devices were worth $633,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP lifted its stake in Analog Devices by 16.6% in the third quarter. Wellington Management Group LLP now owns 43,349 shares of the semiconductor company’s stock valued at $9,978,000 after buying an additional 6,164 shares during the last quarter. Vestcor Inc grew its holdings in Analog Devices by 4.4% in the third quarter. Vestcor Inc now owns 9,762 shares of the semiconductor company’s stock valued at $2,247,000 after purchasing an additional 408 shares during the period. Brophy Wealth Management LLC acquired a new stake in Analog Devices during the 3rd quarter worth approximately $276,000. Toronto Dominion Bank raised its holdings in shares of Analog Devices by 47.9% during the 3rd quarter. Toronto Dominion Bank now owns 273,736 shares of the semiconductor company’s stock valued at $63,006,000 after buying an additional 88,592 shares during the period. Finally, Fortem Financial Group LLC boosted its stake in Analog Devices by 39.3% during the 3rd quarter. Fortem Financial Group LLC now owns 6,281 shares of the semiconductor company’s stock valued at $1,446,000 after acquiring an additional 1,771 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Morgan Stanley raised their price target 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. Maxim Group began coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Wells Fargo & Company upped their price objective 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, JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Up 12.1 %

Shares of NASDAQ:ADI opened at $186.14 on Thursday. The firm has a market cap of $92.32 billion, a P/E ratio of 62.62, a P/E/G 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 business has a fifty day simple moving average of $209.97 and a 200 day simple moving average of $216.71. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 earnings per share. Analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend 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 2.13%. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,684 shares of company stock valued at $5,591,600. Insiders own 0.33% of the company’s stock.

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.