SevenBridge Financial Group LLC Has $1.05 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

SevenBridge Financial Group LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,181 shares of the semiconductor company’s stock after selling 89 shares during the period. SevenBridge Financial Group LLC’s holdings in Analog Devices were worth $1,054,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ADI. Vanguard Group Inc. grew its position in 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 buying an additional 413,084 shares in the last quarter. State Street Corp lifted its position in shares of Analog Devices by 0.5% during the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after acquiring an additional 106,664 shares during the period. Geode Capital Management LLC increased its position in shares of Analog Devices by 2.4% in the fourth 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 during the period. Franklin Resources Inc. increased its position 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 period. Finally, Norges Bank acquired a new position in Analog Devices in the fourth quarter valued at about $1,755,958,000. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred 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 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 filing with the SEC, which is available through this link. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,684 shares of company stock worth $7,746,500. 0.33% of the stock is owned by corporate insiders.

Analog Devices Stock Down 1.2 %

Shares of NASDAQ ADI opened at $199.18 on Wednesday. The company’s 50 day moving average price is $215.71 and its 200-day moving average price is $219.17. 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 52-week low of $182.57 and a 52-week high of $247.10. The company has a market capitalization of $98.79 billion, a P/E ratio of 63.43, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its earnings results 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. 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 previous year, the business earned $1.73 earnings per share. Analog Devices’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.99%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analyst Ratings Changes

ADI has been the topic of several recent analyst reports. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. UBS Group boosted their price target on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Lake Street Capital initiated coverage on Analog Devices in a research note 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

About Analog Devices

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.