Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,838 shares of the semiconductor company’s stock after selling 722 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Analog Devices were worth $1,878,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC raised its stake in shares of Analog Devices by 22,005.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after acquiring an additional 3,059,349 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of 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 valued at $220,891,000 after buying an additional 853,931 shares during the period. Holocene Advisors LP boosted its stake in Analog Devices by 336.4% during the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Analog Devices by 17.3% during the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after purchasing an additional 700,862 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Oppenheimer reiterated 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. Benchmark boosted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Morgan Stanley boosted their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Up 2.7 %

ADI opened at $229.82 on Monday. The firm’s 50-day simple moving average is $217.55 and its 200-day simple moving average is $221.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The firm has a market cap of $113.99 billion, a price-to-earnings ratio of 73.19, a PEG ratio of 2.85 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 net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.72%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is currently 126.11%.

Analog Devices declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

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.