Intech Investment Management LLC Acquires 10,516 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Intech Investment Management LLC grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 36.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,537 shares of the semiconductor company’s stock after purchasing an additional 10,516 shares during the quarter. Intech Investment Management LLC’s holdings in Analog Devices were worth $7,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Analog Devices by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after purchasing an additional 21,522 shares in the last quarter. CTC Alternative Strategies Ltd. bought a new position in shares of Analog Devices during the 4th quarter valued at $1,152,000. Sequoia Financial Advisors LLC raised its holdings in shares of Analog Devices by 107.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after purchasing an additional 6,564 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in Analog Devices by 37.5% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock worth $1,612,000 after acquiring an additional 2,215 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in Analog Devices by 4.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after acquiring an additional 4,516 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is owned by insiders.

Analog Devices Price Performance

ADI stock traded down $2.05 during mid-day trading on Friday, hitting $232.51. The stock had a trading volume of 4,544,312 shares, compared to its average volume of 3,265,739. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $241.88. The firm has a market capitalization of $115.38 billion, a P/E ratio of 54.32, a P/E/G ratio of 5.77 and a beta of 1.14. The firm has a fifty day simple moving average of $200.67 and a 200 day simple moving average of $193.66.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the firm earned $2.83 EPS. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. As a group, research analysts forecast that Analog Devices, Inc. will post 6.16 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Analysts Set New Price Targets

Several brokerages recently commented on ADI. Oppenheimer lifted their target price on shares of Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Bank of America lifted their target price on shares of Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday. Susquehanna lifted their target price on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday. Stifel Nicolaus raised their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Finally, Citigroup raised their price target on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.23.

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.