Financial Counselors Inc. Has $481,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Financial Counselors Inc. cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 35.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,265 shares of the semiconductor company’s stock after selling 1,266 shares during the quarter. Financial Counselors Inc.’s holdings in Analog Devices were worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Midwest Professional Planners LTD. raised its stake in shares of Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after purchasing an additional 53 shares in the last quarter. NTV Asset Management LLC increased its holdings in Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after buying an additional 54 shares during the last quarter. West Oak Capital LLC raised its position in Analog Devices by 0.4% during the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after acquiring an additional 55 shares in the last quarter. Cassady Schiller Wealth Management LLC lifted its stake in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in Analog Devices by 0.8% in the third quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock worth $1,568,000 after acquiring an additional 57 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Down 3.5 %

Shares of ADI stock opened at $201.56 on Friday. Analog Devices, Inc. has a one year low of $182.57 and a one year 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. The stock has a fifty day moving average price of $216.51 and a 200 day moving average price of $219.52. The stock has a market cap of $99.97 billion, a P/E ratio of 64.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping 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%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $1.73 EPS. Analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has authorized a share buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

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

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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 owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The shares were 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 $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,684 shares of company stock valued at $7,746,500. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of recent research reports. UBS Group raised their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Benchmark raised their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Lake Street Capital began coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Barclays cut their price objective 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. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

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.