Lake Street Advisors Group LLC Reduces Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Lake Street Advisors Group LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,029 shares of the semiconductor company’s stock after selling 279 shares during the period. Lake Street Advisors Group LLC’s holdings in Analog Devices were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after purchasing an additional 39,186 shares in the last quarter. Swiss National Bank boosted its holdings in Analog Devices by 0.3% during the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after buying an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in Analog Devices by 47.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after buying an additional 7,386 shares during the period. Curbstone Financial Management Corp purchased a new position in Analog Devices in the fourth quarter valued at $460,000. Finally, Summit Global Investments acquired a new position in shares of Analog Devices in the third quarter worth about $867,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company raised their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a 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. Lake Street Capital initiated coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Finally, UBS Group boosted their price target 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. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Down 0.7 %

Shares of NASDAQ:ADI opened at $233.73 on Thursday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The stock has a market cap of $115.92 billion, a P/E ratio of 74.44, a PEG ratio of 2.85 and a beta of 1.04. The business has a fifty day moving average of $216.87 and a two-hundred day moving average of $220.90. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

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 the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the company posted $1.73 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its Board of Directors has authorized a stock buyback program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is currently 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.