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

Primecap Management Co. CA lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,523,385 shares of the semiconductor company’s stock after selling 54,765 shares during the period. Primecap Management Co. CA owned approximately 0.71% of Analog Devices worth $748,578,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ADI. Raymond James Financial Inc. acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC grew its holdings in 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 acquiring an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. grew its holdings in 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 acquiring an additional 1,189,940 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in 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 acquiring an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP grew its holdings in 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 in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

ADI has been the subject of several analyst reports. TD Cowen lowered their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Benchmark boosted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Barclays reduced their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Morgan Stanley boosted their price objective 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. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $255.41.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Up 1.4 %

Shares of Analog Devices stock opened at $211.68 on Tuesday. The company has a market cap of $104.99 billion, a P/E ratio of 67.41, a PEG ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The firm has a fifty day moving average of $217.96 and a two-hundred day moving average of $220.40.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS 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 company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.87%. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices announced that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are 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.