Allianz SE Acquires Shares of 47,698 Analog Devices, Inc. (NASDAQ:ADI)

Allianz SE bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 47,698 shares of the semiconductor company’s stock, valued at approximately $10,139,000.

A number of other hedge funds have also made changes to their positions in ADI. Vanguard Group Inc. increased its holdings in Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock valued at $10,432,961,000 after buying an additional 413,084 shares during the last quarter. State Street Corp lifted its stake in Analog Devices by 0.5% during the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock worth $5,195,302,000 after purchasing an additional 106,664 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Analog Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock worth $2,377,094,000 after purchasing an additional 135,838 shares during the period. Franklin Resources Inc. increased its stake in Analog Devices by 14.9% during 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 purchasing an additional 1,189,940 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Analog Devices during the fourth quarter worth $1,755,958,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ADI shares. 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. Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Barclays dropped their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, UBS Group boosted their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Trading Down 3.5 %

Analog Devices stock opened at $201.56 on Friday. The company’s fifty day moving average price is $216.51 and its two-hundred day moving average price is $219.52. 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 one year low of $182.57 and a one year high of $247.10. The company has a market capitalization of $99.97 billion, a price-to-earnings ratio of 64.19, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate 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 for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 EPS. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.96%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is 126.11%.

Analog Devices announced that its board has authorized a stock buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was 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 of the company’s stock, valued at approximately $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,684 shares of company stock valued at $7,746,500 in the last ninety days. Company insiders own 0.33% of the company’s stock.

About Analog Devices

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.