Callan Capital LLC Sells 151 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Callan Capital LLC lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.0% during the fourth quarter, HoldingsChannel reports. The fund owned 2,377 shares of the semiconductor company’s stock after selling 151 shares during the quarter. Callan Capital LLC’s holdings in Analog Devices were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after buying an additional 39,186 shares during the period. Swiss National Bank increased its holdings in Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after buying an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after buying an additional 7,386 shares during the period. Curbstone Financial Management Corp bought a new stake in Analog Devices in the 4th quarter valued at $460,000. Finally, Summit Global Investments bought a new stake in Analog Devices in the 3rd quarter valued at $867,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 2.0 %

NASDAQ ADI opened at $238.91 on Friday. The company has a market cap of $118.49 billion, a PE ratio of 76.09, a PEG ratio of 2.60 and a beta of 1.04. The company has a current ratio of 1.93, a quick ratio of 1.35 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. The stock has a 50 day moving average of $215.50 and a 200-day moving average of $220.34.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 EPS. On average, equities research analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared 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. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.66%. Analog Devices’s dividend payout ratio (DPR) is currently 117.20%.

Analog Devices announced that its Board of Directors 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 buy up to 9.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on ADI. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Maxim Group assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Benchmark boosted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. Lake Street Capital assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Finally, Barclays reduced their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average target price of $255.41.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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.