Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Totem Point Management LLC

Totem Point Management LLC decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 71.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,847 shares of the semiconductor company’s stock after selling 32,950 shares during the quarter. Analog Devices accounts for about 2.9% of Totem Point Management LLC’s holdings, making the stock its 13th biggest holding. Totem Point Management LLC’s holdings in Analog Devices were worth $2,729,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Broderick Brian C lifted its stake in Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock worth $16,831,000 after purchasing an additional 2,017 shares during the last quarter. Curbstone Financial Management Corp acquired a new position in shares of Analog Devices in the 4th quarter valued at $460,000. Czech National Bank grew its position in shares of Analog Devices by 6.5% in the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after buying an additional 6,566 shares during the last quarter. Synergy Asset Management LLC raised its stake in Analog Devices by 11.1% during the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after acquiring an additional 2,554 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in Analog Devices in the third quarter valued at $20,194,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was 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 owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 64,918 shares in the company, valued at $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. Insiders sold a total of 29,809 shares of company stock worth $6,154,756 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ADI. Oppenheimer reissued an “outperform” rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Maxim Group assumed coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Morgan Stanley set a $214.00 target price on shares of Analog Devices in a report on Monday. Finally, Wells Fargo & Company increased their price target on shares of 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 equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $250.43.

Analog Devices Price Performance

Analog Devices stock opened at $178.50 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 one year low of $158.65 and a one year high of $247.10. The company has a market cap of $88.53 billion, a P/E ratio of 56.85, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The business has a fifty day moving average of $204.78 and a two-hundred day moving average of $213.53.

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. 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 the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. This is a positive change 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 2.22%. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices declared that its board has initiated a share buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Analog Devices 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.