Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,117 shares of the semiconductor company’s stock after selling 540 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Analog Devices were worth $1,512,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADI. Raymond James Financial Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC raised 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 worth $652,943,000 after acquiring an additional 3,059,349 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position 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 purchasing an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP raised its stake 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 purchasing an additional 823,709 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of ADI stock opened at $208.75 on Friday. 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 has a 50 day moving average of $218.09 and a two-hundred day moving average of $220.58. The company has a market cap of $103.53 billion, a P/E ratio of 66.48, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 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 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 EPS. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. 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 1.90%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices announced that its board has authorized a share repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ADI has been the topic of several recent analyst reports. TD Cowen reduced their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Wells Fargo & Company boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Maxim Group assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Finally, Morgan Stanley raised their target price on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of 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 SEC, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

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.