Pictet Asset Management Holding SA Sells 110,359 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Pictet Asset Management Holding SA lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,379,167 shares of the semiconductor company’s stock after selling 110,359 shares during the quarter. Pictet Asset Management Holding SA owned 0.28% of Analog Devices worth $293,018,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. United Bank boosted its position in shares of Analog Devices by 4.7% during the third quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock valued at $1,394,000 after buying an additional 273 shares during the period. Quest Partners LLC bought a new position in Analog Devices in the 3rd quarter worth about $210,000. Larson Financial Group LLC raised its position in Analog Devices by 103.6% during the 3rd quarter. Larson Financial Group LLC now owns 448 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 228 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Analog Devices by 20.2% in the 3rd quarter. Fisher Asset Management LLC now owns 2,831 shares of the semiconductor company’s stock worth $652,000 after buying an additional 476 shares during the period. Finally, Hancock Whitney Corp increased its stake in shares of Analog Devices by 5.5% during the third quarter. Hancock Whitney Corp now owns 1,196 shares of the semiconductor company’s stock valued at $275,000 after buying an additional 62 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,684 shares of company stock valued at $7,746,500. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on ADI. Williams Trading set a $245.00 target price on shares of Analog Devices in a report on Friday, February 14th. Maxim Group initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Barclays cut their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, UBS Group lifted their price target on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $208.94 on Friday. The company has a 50 day simple moving average of $216.86 and a two-hundred day simple moving average of $219.64. The stock has a market cap of $103.63 billion, a price-to-earnings ratio of 66.54, a PEG ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. As a group, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.90%. The ex-dividend date 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.