Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,577 shares of the semiconductor company’s stock after selling 314 shares during the period. Thoroughbred Financial Services LLC’s holdings in Analog Devices were worth $1,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter worth about $1,755,958,000. Raymond James Financial Inc. bought a new position in Analog Devices during the 4th quarter worth approximately $833,386,000. Proficio Capital Partners LLC grew its position 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 worth $652,943,000 after acquiring an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. increased 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 acquiring an additional 1,189,940 shares during the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in shares of Analog Devices during the 4th quarter valued at approximately $111,470,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Benchmark boosted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley raised their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Maxim Group initiated coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Trading Down 9.0 %

Shares of Analog Devices stock opened at $164.60 on Friday. The business has a fifty day simple moving average of $213.22 and a 200-day simple moving average of $218.36. Analog Devices, Inc. has a fifty-two week low of $164.14 and a fifty-two week high of $247.10. The firm has a market cap of $81.64 billion, a price-to-earnings ratio of 52.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 16.75% and a return on equity of 8.91%. Analog Devices’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 EPS. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were 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 was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 2.41%. Analog Devices’s payout ratio is 126.11%.

Analog Devices announced that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 43,175 shares of the company’s stock, 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. In the last 90 days, insiders sold 26,684 shares of company stock worth $5,591,600. Insiders own 0.33% of the company’s stock.

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.