Mariner LLC Decreases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Mariner LLC trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,986 shares of the semiconductor company’s stock after selling 784 shares during the quarter. Mariner LLC’s holdings in Analog Devices were worth $27,829,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADI. Midwest Professional Planners LTD. grew its holdings in Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock valued at $1,975,000 after purchasing an additional 53 shares during the period. Portland Global Advisors LLC lifted its position in shares of Analog Devices by 1.3% during the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after buying an additional 53 shares during the last quarter. NTV Asset Management LLC grew its stake in shares of Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 54 shares during the period. West Oak Capital LLC increased its holdings in Analog Devices by 0.4% in the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock worth $2,658,000 after acquiring an additional 55 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC raised its stake in Analog Devices by 63.2% in the 4th 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 period. 86.81% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Vivek Jain sold 12,684 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,684 shares of company stock valued at $5,591,600. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ADI has been the subject of several recent research reports. Citigroup reduced their target price on shares of Analog Devices from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Benchmark raised their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Wells Fargo & Company raised their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.73.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $179.54 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The company has a fifty day moving average of $207.71 and a 200-day moving average of $215.30. The stock has a market capitalization of $89.05 billion, a price-to-earnings ratio of 57.18, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06.

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

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

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is 126.11%.

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.