Tucker Asset Management LLC Reduces Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Tucker Asset Management LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,376 shares of the semiconductor company’s stock after selling 300 shares during the quarter. Tucker Asset Management LLC’s holdings in Analog Devices were worth $292,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADI. Allstate Corp purchased a new position in Analog Devices in the fourth quarter valued at about $3,122,000. Brown Brothers Harriman & Co. boosted its position in Analog Devices by 199.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 29,128 shares of the semiconductor company’s stock valued at $6,189,000 after buying an additional 19,417 shares during the last quarter. DnB Asset Management AS raised its position in Analog Devices by 36.8% during the 4th quarter. DnB Asset Management AS now owns 124,936 shares of the semiconductor company’s stock worth $26,544,000 after buying an additional 33,595 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in Analog Devices by 9.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 48,196 shares of the semiconductor company’s stock valued at $10,240,000 after acquiring an additional 4,339 shares during the period. Finally, AKO Capital LLP boosted its holdings in shares of Analog Devices by 3.8% in the 4th quarter. AKO Capital LLP now owns 1,167,224 shares of the semiconductor company’s stock valued at $247,988,000 after acquiring an additional 42,938 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The shares were 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 in the company, valued at $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 SEC, which is available through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,684 shares of company stock worth $7,746,500 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ADI shares. Lake Street Capital assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Benchmark raised their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley upped their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Barclays decreased their price target on shares of 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. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Performance

NASDAQ ADI opened at $201.56 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 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 company has a market capitalization of $99.97 billion, a PE ratio of 64.19, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a fifty day moving average of $216.51 and a two-hundred day moving average of $219.52.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 earnings per share. As a group, analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has initiated a stock repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. 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. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s 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.