Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Front Row Advisors LLC

Front Row Advisors LLC lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,763 shares of the semiconductor company’s stock after selling 95 shares during the period. Analog Devices comprises about 0.9% of Front Row Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Front Row Advisors LLC’s holdings in Analog Devices were worth $2,712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Analog Devices during the fourth quarter worth approximately $1,755,958,000. Raymond James Financial Inc. acquired a new stake in Analog Devices during the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC increased its stake in 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 purchasing an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Analog Devices by 14.9% during the third 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 period. Finally, Holocene Advisors LP lifted its holdings in shares of Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on ADI shares. Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Benchmark boosted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. UBS Group increased their target price on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Maxim Group began coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $201.67 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The business’s fifty day moving average price is $216.16 and its two-hundred day moving average price is $219.35. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The stock has a market capitalization of $100.02 billion, a price-to-earnings ratio of 64.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. The business 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 quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 EPS. As a group, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.96%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is 126.11%.

Analog Devices declared that its board 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 repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,684 shares of company stock valued at $7,746,500 in the last three months. 0.33% of the stock is owned by corporate insiders.

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.