Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 35.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,265 shares of the semiconductor company’s stock after selling 1,266 shares during the quarter. Financial Counselors Inc.’s holdings in Analog Devices were worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ADI. United Bank raised its stake in Analog Devices by 4.7% during the third quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock worth $1,394,000 after acquiring an additional 273 shares during the period. Larson Financial Group LLC grew its holdings in shares of Analog Devices by 103.6% during the third quarter. Larson Financial Group LLC now owns 448 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 228 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Analog Devices by 20.2% during the 3rd quarter. Fisher Asset Management LLC now owns 2,831 shares of the semiconductor company’s stock worth $652,000 after purchasing an additional 476 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Analog Devices by 0.8% in the 3rd quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock worth $1,568,000 after purchasing an additional 57 shares during the last quarter. Finally, Townsquare Capital LLC boosted its position in Analog Devices by 23.4% during the 3rd quarter. Townsquare Capital LLC now owns 12,838 shares of the semiconductor company’s stock valued at $2,955,000 after purchasing an additional 2,431 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Benchmark lifted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Maxim Group assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Barclays cut their price target on 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, Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling

In other news, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 36,684 shares of company stock valued at $7,746,500. 0.33% of the stock is owned by corporate insiders.

Analog Devices Stock Down 3.5 %

NASDAQ ADI opened at $201.56 on Friday. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a market capitalization of $99.97 billion, a P/E ratio of 64.19, a PEG ratio of 2.85 and a beta of 1.07. The company’s 50 day simple moving average is $216.51 and its 200 day simple moving average 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 (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $1.73 earnings per share. Equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

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

Analog Devices declared that its board has authorized a stock buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is 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.