Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by MONECO Advisors LLC

MONECO Advisors LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 16.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,120 shares of the semiconductor company’s stock after acquiring an additional 301 shares during the quarter. MONECO Advisors LLC’s holdings in Analog Devices were worth $450,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Analog Devices by 807.5% in 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. Holocene Advisors LP increased 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 worth $245,953,000 after purchasing an additional 823,709 shares in the last quarter. Van ECK Associates Corp increased its stake in Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after purchasing an additional 700,862 shares in the last quarter. Finally, FMR LLC increased its stake in Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after purchasing an additional 665,149 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Down 0.8 %

ADI opened at $236.99 on Tuesday. The business has a 50 day moving average price of $215.92 and a 200 day moving average price of $220.64. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.93. The firm has a market cap of $117.54 billion, a P/E ratio of 75.47, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company earned $1.73 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s payout ratio is currently 117.20%.

Analog Devices declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on ADI shares. Barclays lowered their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. TD Cowen lowered their target price on 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 reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Maxim Group started coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Finally, UBS Group lifted their target price on 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 assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company 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.