Envestnet Asset Management Inc. Has $401.80 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Envestnet Asset Management Inc. raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,891,194 shares of the semiconductor company’s stock after acquiring an additional 47,468 shares during the period. Envestnet Asset Management Inc.’s holdings in Analog Devices were worth $401,803,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADI. Vanguard Group Inc. increased its position in shares of Analog Devices by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock worth $10,432,961,000 after acquiring an additional 413,084 shares in the last quarter. Geode Capital Management LLC increased its holdings in Analog Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company’s stock worth $2,248,971,000 after purchasing an additional 247,737 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Analog Devices by 14.9% in the third 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 during the last quarter. Norges Bank bought a new position in shares of Analog Devices in the fourth quarter valued at approximately $1,755,958,000. Finally, Van ECK Associates Corp boosted its position in shares of Analog Devices by 4.8% during the fourth quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock valued at $1,058,364,000 after buying an additional 226,716 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was 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 approximately $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value 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 $10,441,928.04. The trade was a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,684 shares of company stock worth $5,591,600 over the last three months. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADI has been the topic of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Lake Street Capital assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Wells Fargo & Company upped their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Stock Performance

NASDAQ ADI opened at $164.60 on Friday. The company’s 50 day simple moving average is $213.22 and its two-hundred day simple moving average is $218.31. The stock has a market capitalization of $81.64 billion, a PE ratio of 52.42, a P/E/G ratio of 2.85 and a beta of 1.06. 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 1 year low of $164.14 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data 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 during 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 quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.73 earnings per share. Analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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 paid a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

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.