Snyder Capital Management L P Reduces Stake in Analog Devices, Inc. (NASDAQ:ADI)

Snyder Capital Management L P lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 6.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 273,296 shares of the semiconductor company’s stock after selling 18,051 shares during the period. Analog Devices accounts for approximately 1.2% of Snyder Capital Management L P’s portfolio, making the stock its 29th largest holding. Snyder Capital Management L P owned approximately 0.06% of Analog Devices worth $58,064,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ADI shares. JPMorgan Chase & Co. upped their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Lake Street Capital initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Barclays cut their price objective on shares of Analog Devices from $240.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, UBS Group upped their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.43.

Analog Devices Stock Up 6.6 %

ADI stock opened at $195.23 on Friday. The company has a market cap of $96.83 billion, a price-to-earnings ratio of 62.18, a PEG ratio of 2.85 and a beta of 1.06. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The firm has a 50-day moving average of $203.77 and a two-hundred day moving average of $213.11.

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is a boost 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 2.03%. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

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

Insider Buying and Selling at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, the director now owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,809 shares of company stock worth $6,154,756 over the last quarter. 0.33% of the stock is currently owned by company insiders.

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.