Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 60,937 shares of the semiconductor company’s stock after selling 267 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Analog Devices were worth $12,947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ADI. United Bank increased its position in Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock valued at $1,394,000 after acquiring an additional 273 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of Analog Devices by 3.0% during the third quarter. Integrated Wealth Concepts LLC now owns 4,030 shares of the semiconductor company’s stock worth $927,000 after purchasing an additional 118 shares during the period. Weiss Asset Management LP purchased a new position in Analog Devices in the 3rd quarter valued at $2,198,000. Worldquant Millennium Advisors LLC purchased a new position in Analog Devices during the 3rd quarter worth $11,045,000. Finally, Wellington Management Group LLP lifted its stake in shares of Analog Devices by 16.6% in the 3rd quarter. Wellington Management Group LLP now owns 43,349 shares of the semiconductor company’s stock worth $9,978,000 after acquiring an additional 6,164 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Barclays decreased their price target on 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. Morgan Stanley increased their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Finally, Oppenheimer reissued an “outperform” rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The transaction 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 firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,684 shares of company stock valued at $5,591,600 in the last quarter. Company insiders own 0.33% of the company’s stock.

Analog Devices Trading Down 9.0 %

NASDAQ:ADI opened at $164.60 on Monday. The business’s 50-day moving average is $213.22 and its two-hundred day moving average is $218.28. The firm has a market capitalization of $81.64 billion, a PE ratio of 52.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 12 month low of $159.66 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI) last announced its 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 business had revenue of $2.42 billion for 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 company’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. Research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 2.41%. 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. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its board has approved a share buyback program 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.