Securian Asset Management Inc. Sells 761 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Securian Asset Management Inc. trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,683 shares of the semiconductor company’s stock after selling 761 shares during the quarter. Securian Asset Management Inc.’s holdings in Analog Devices were worth $5,669,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB increased its stake in Analog Devices by 6.7% in the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock worth $666,137,000 after acquiring an additional 180,870 shares during the last quarter. Impax Asset Management Group plc increased its stake in Analog Devices by 7.7% in the 3rd quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company’s stock worth $352,728,000 after acquiring an additional 110,448 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Analog Devices in the 3rd quarter worth about $28,000. United Bank increased its stake in Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock worth $1,394,000 after acquiring an additional 273 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its stake in Analog Devices by 15.7% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 1,981 shares of the semiconductor company’s stock worth $456,000 after acquiring an additional 269 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ADI shares. TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. JPMorgan Chase & Co. increased their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Morgan Stanley increased their price objective on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Maxim Group started coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Analog Devices Trading Down 3.3 %

NASDAQ ADI opened at $209.08 on Wednesday. The stock has a market cap of $103.70 billion, a P/E ratio of 66.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock has a 50 day simple moving average of $218.49 and a two-hundred day simple moving average of $220.99. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS 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 analysts’ expectations 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 last year, the business posted $1.73 EPS. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management 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.