Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Callan Capital LLC

Callan Capital LLC reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,377 shares of the semiconductor company’s stock after selling 151 shares during the period. Callan Capital LLC’s holdings in Analog Devices were worth $505,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Analog Devices by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after acquiring an additional 39,186 shares in the last quarter. Swiss National Bank increased its position in shares of Analog Devices by 0.3% in the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after acquiring an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after acquiring an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp purchased a new position in shares of Analog Devices in the fourth quarter worth approximately $460,000. Finally, Summit Global Investments purchased a new position in shares of Analog Devices in the third quarter worth approximately $867,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday. Lake Street Capital assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Trading Down 2.0 %

NASDAQ:ADI opened at $238.91 on Friday. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The firm has a market cap of $118.49 billion, a price-to-earnings ratio of 76.09, a P/E/G ratio of 2.60 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $215.50 and its 200-day moving average is $220.34.

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

Analog Devices declared that its Board of Directors has initiated a share buyback 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 buy up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be 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 is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.66%. Analog Devices’s dividend payout ratio (DPR) is currently 117.20%.

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.