United Bank Grows Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

United Bank increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 19.9% in the 4th quarter, HoldingsChannel reports. The fund owned 7,263 shares of the semiconductor company’s stock after purchasing an additional 1,207 shares during the quarter. United Bank’s holdings in Analog Devices were worth $1,543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its position in Analog Devices by 20.2% in the third quarter. Fisher Asset Management LLC now owns 2,831 shares of the semiconductor company’s stock valued at $652,000 after purchasing an additional 476 shares during the period. D.A. Davidson & CO. boosted its holdings in Analog Devices by 0.8% during the 3rd quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock valued at $1,568,000 after acquiring an additional 57 shares during the period. Townsquare Capital LLC grew its position in Analog Devices by 23.4% in the 3rd quarter. Townsquare Capital LLC now owns 12,838 shares of the semiconductor company’s stock valued at $2,955,000 after acquiring an additional 2,431 shares in the last quarter. Freedom Investment Management Inc. increased its stake in Analog Devices by 15.7% during the third quarter. Freedom Investment Management Inc. now owns 2,218 shares of the semiconductor company’s stock worth $510,000 after purchasing an additional 301 shares during the period. Finally, Glenmede Trust Co. NA lifted its position in shares of Analog Devices by 2.8% during the third quarter. Glenmede Trust Co. NA now owns 21,315 shares of the semiconductor company’s stock worth $4,906,000 after purchasing an additional 587 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 3.5 %

Shares of NASDAQ:ADI opened at $201.56 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a market cap of $99.97 billion, a P/E ratio of 64.19, a P/E/G ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The firm has a fifty day moving average price of $216.51 and a 200 day moving average price of $219.53.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the company posted $1.73 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. 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. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,684 shares of company stock valued at $7,746,500. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on ADI. UBS Group upped their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Benchmark upped their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. 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, Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.41.

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.