Cantillon Capital Management LLC Grows Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Cantillon Capital Management LLC grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,309,278 shares of the semiconductor company’s stock after acquiring an additional 12,156 shares during the period. Analog Devices accounts for 3.0% of Cantillon Capital Management LLC’s portfolio, making the stock its 13th biggest position. Cantillon Capital Management LLC’s holdings in Analog Devices were worth $490,629,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Hawaii lifted its stake in Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 48 shares during the last quarter. NTV Asset Management LLC lifted its stake in Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after purchasing an additional 54 shares during the last quarter. West Oak Capital LLC lifted its stake in Analog Devices by 0.4% during the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock worth $2,658,000 after purchasing an additional 55 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Analog Devices by 0.8% during the third quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock worth $1,568,000 after purchasing an additional 57 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC lifted its stake in Analog Devices by 4.3% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,406 shares of the semiconductor company’s stock worth $299,000 after purchasing an additional 58 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Barclays cut their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Wells Fargo & Company raised their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Finally, Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Analog Devices Price Performance

NASDAQ:ADI opened at $229.82 on Friday. The business’s 50-day moving average price is $217.55 and its 200 day moving average price is $221.07. The firm has a market cap of $113.99 billion, a P/E ratio of 73.19, a PEG ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-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.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 earnings per share. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared 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 represents a $3.96 dividend on an annualized basis and a yield of 1.72%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analog Devices declared that its Board of Directors has authorized a share buyback 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 buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Analog Devices Company 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.