Impax Asset Management Group plc Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Impax Asset Management Group plc reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 14.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,316,955 shares of the semiconductor company’s stock after selling 219,508 shares during the quarter. Analog Devices comprises about 1.3% of Impax Asset Management Group plc’s holdings, making the stock its 25th biggest holding. Impax Asset Management Group plc’s holdings in Analog Devices were worth $278,934,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bank of Hawaii lifted its position in Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 48 shares during the last quarter. MONECO Advisors LLC raised its position in shares of Analog Devices by 2.8% during the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after buying an additional 50 shares in the last quarter. Amarillo National Bank lifted its holdings in shares of Analog Devices by 3.6% during the 3rd quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock worth $360,000 after acquiring an additional 54 shares during the last quarter. NTV Asset Management LLC grew its position in Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 54 shares in the last quarter. Finally, West Oak Capital LLC increased its stake in Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 2.0 %

ADI stock opened at $238.91 on Monday. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The company has a market capitalization of $118.49 billion, a price-to-earnings ratio of 76.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. The business’s 50 day moving average price is $215.50 and its two-hundred day moving average price is $220.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last released its quarterly 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 company had revenue of $2.42 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $1.73 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.66%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 117.20%.

Analog Devices declared that its Board of Directors has initiated a share 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ADI has been the subject of several research analyst reports. Williams Trading set a $245.00 price target on Analog Devices in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday. Maxim Group started coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. TD Cowen decreased their price target 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. Finally, Lake Street Capital initiated coverage on shares of Analog Devices in a research note 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 company’s stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

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.