AIA Group Ltd Sells 3,088 Shares of Analog Devices, Inc. (NASDAQ:ADI)

AIA Group Ltd reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 31.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,700 shares of the semiconductor company’s stock after selling 3,088 shares during the quarter. AIA Group Ltd’s holdings in Analog Devices were worth $1,423,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ADI. Norges Bank bought a new position in shares of Analog Devices during the 4th quarter valued at about $1,755,958,000. Raymond James Financial Inc. bought a new position in Analog Devices in the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC boosted its holdings in shares of Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after buying an additional 3,059,349 shares during the period. Franklin Resources Inc. increased its position in shares of Analog Devices by 14.9% during the third 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. Finally, Holocene Advisors LP lifted its position in Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after acquiring an additional 823,709 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,684 shares of company stock worth $7,746,500. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays lowered their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Benchmark lifted their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley upped their price target on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Finally, Oppenheimer reissued an “outperform” rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $201.67 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average price is $216.16 and its two-hundred day moving average price is $219.35. The company has a market cap of $100.02 billion, a PE ratio of 64.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its 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 return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the firm earned $1.73 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its board has approved a stock 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently announced 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. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Tuesday, March 4th. 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 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.