West Tower Group LLC Has $425,000 Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

West Tower Group LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 33.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,000 shares of the semiconductor company’s stock after selling 1,000 shares during the period. West Tower Group LLC’s holdings in Analog Devices were worth $425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xponance Inc. grew its position in shares of Analog Devices by 1.2% during the 4th quarter. Xponance Inc. now owns 74,698 shares of the semiconductor company’s stock worth $15,870,000 after buying an additional 875 shares during the period. Generali Asset Management SPA SGR acquired a new position in Analog Devices during the 4th quarter worth approximately $2,368,000. Horizon Investments LLC boosted its position in Analog Devices by 52.3% during the 4th quarter. Horizon Investments LLC now owns 23,662 shares of the semiconductor company’s stock worth $5,027,000 after acquiring an additional 8,123 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Analog Devices by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 25,883 shares of the semiconductor company’s stock worth $5,531,000 after acquiring an additional 547 shares during the last quarter. Finally, Leelyn Smith LLC boosted its position in Analog Devices by 0.7% during the 4th quarter. Leelyn Smith LLC now owns 21,753 shares of the semiconductor company’s stock worth $4,622,000 after acquiring an additional 149 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Price Performance

Analog Devices stock opened at $209.16 on Wednesday. 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 $103.74 billion, a PE ratio of 66.61, a P/E/G ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The stock has a 50-day moving average price of $217.83 and a two-hundred day moving average price of $220.22.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company earned $1.73 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. Analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. 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 corporate insiders.

Wall Street Analyst Weigh In

ADI has been the topic of a number of analyst reports. Maxim Group initiated coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upped 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. Williams Trading set a $245.00 price objective on Analog Devices in a research note on Friday, February 14th. TD Cowen dropped their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Oppenheimer restated an “outperform” rating and issued a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.