GPM Growth Investors Inc. Sells 527 Shares of Analog Devices, Inc. (NASDAQ:ADI)

GPM Growth Investors Inc. lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,232 shares of the semiconductor company’s stock after selling 527 shares during the quarter. Analog Devices comprises about 3.1% of GPM Growth Investors Inc.’s investment portfolio, making the stock its 14th biggest position. GPM Growth Investors Inc.’s holdings in Analog Devices were worth $7,273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB boosted its position in shares of Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after acquiring an additional 180,870 shares in the last quarter. Impax Asset Management Group plc boosted its position in shares of Analog Devices by 7.7% during the 3rd quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company’s stock valued at $352,728,000 after acquiring an additional 110,448 shares in the last quarter. Catalyst Capital Advisors LLC lifted its holdings in Analog Devices by 67.0% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 795 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 319 shares during the last quarter. HF Advisory Group LLC lifted its holdings in Analog Devices by 10.9% during the 3rd quarter. HF Advisory Group LLC now owns 4,430 shares of the semiconductor company’s stock valued at $1,020,000 after purchasing an additional 436 shares during the last quarter. Finally, Catalina Capital Group LLC lifted its holdings in Analog Devices by 6.0% during the 3rd quarter. Catalina Capital Group LLC now owns 3,125 shares of the semiconductor company’s stock valued at $719,000 after purchasing an additional 176 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADI. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. TD Cowen cut 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. Morgan Stanley lifted their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, UBS Group lifted their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $255.41.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Trading Up 1.5 %

ADI opened at $229.47 on Thursday. The company has a market cap of $113.81 billion, a price-to-earnings ratio of 73.08, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The firm has a 50 day simple moving average of $218.21 and a 200 day simple moving average of $221.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10.

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, beating analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.73 earnings per share. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.73%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices declared that its board has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.