Analog Devices, Inc. (NASDAQ:ADI) Stake Reduced by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 5.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 364,177 shares of the semiconductor company’s stock after selling 19,631 shares during the period. Analog Devices accounts for about 1.9% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Anchor Capital Advisors LLC owned about 0.07% of Analog Devices worth $72,311,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ADI. Pinnacle Bancorp Inc. boosted its stake in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 65 shares during the period. Cetera Trust Company N.A acquired a new position in Analog Devices in the fourth quarter valued at approximately $29,000. Stuart Chaussee & Associates Inc. acquired a new position in Analog Devices in the fourth quarter valued at approximately $32,000. Northwest Capital Management Inc boosted its stake in Analog Devices by 519.2% in the fourth quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 135 shares during the period. Finally, Silver Oak Securities Incorporated acquired a new position in Analog Devices in the third quarter valued at approximately $29,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADI. KeyCorp boosted their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Oppenheimer reiterated an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a research report on Thursday, February 22nd. The Goldman Sachs Group lifted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Morgan Stanley restated an “overweight” rating and set a $212.00 price target on shares of Analog Devices in a report on Thursday, April 11th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Insider Buying and Selling

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock worth $4,825,113 in the last three months. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

ADI traded up $1.93 on Monday, reaching $203.90. The company had a trading volume of 2,287,375 shares, compared to its average volume of 3,380,596. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20. The stock has a market cap of $101.12 billion, a P/E ratio of 36.13, a P/E/G ratio of 5.07 and a beta of 1.17. The company’s fifty day moving average is $193.45 and its 200 day moving average is $187.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the firm posted $2.75 EPS. The business’s revenue for the quarter was down 22.7% compared to the same quarter last year. As a group, analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.80%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio is currently 65.83%.

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.