Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Horizon Investments LLC

Horizon Investments LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 52.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,662 shares of the semiconductor company’s stock after buying an additional 8,123 shares during the quarter. Horizon Investments LLC’s holdings in Analog Devices were worth $5,027,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings 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 worth $5,195,302,000 after buying an additional 106,664 shares during the last quarter. Geode Capital Management LLC increased its stake in Analog Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock worth $2,377,094,000 after acquiring an additional 135,838 shares during the last quarter. Franklin Resources Inc. raised its position in Analog Devices by 14.9% in 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 purchasing an additional 1,189,940 shares during the period. FMR LLC raised its position in Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after purchasing an additional 665,149 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Analog Devices by 4.8% during the 4th quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock worth $1,058,364,000 after purchasing an additional 226,716 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

ADI has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. UBS Group upped their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Williams Trading set a $245.00 target price on shares of Analog Devices in a report on Friday, February 14th. Benchmark upped their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lifted their price objective on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Up 1.4 %

Shares of NASDAQ:ADI opened at $211.68 on Tuesday. The firm has a 50 day simple moving average of $217.96 and a 200-day simple moving average of $220.40. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $104.99 billion, a PE ratio of 67.41, a P/E/G ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced 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. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the company earned $1.73 earnings per share. Analog Devices’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has approved a share buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.87%. Analog Devices’s dividend payout ratio is 126.11%.

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.