Cannell & Spears LLC Raises Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Cannell & Spears LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,631 shares of the semiconductor company’s stock after purchasing an additional 7,242 shares during the quarter. Analog Devices comprises approximately 1.2% of Cannell & Spears LLC’s portfolio, making the stock its 22nd biggest holding. Cannell & Spears LLC owned approximately 0.05% of Analog Devices worth $57,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Curbstone Financial Management Corp bought a new position in shares of Analog Devices during the 4th quarter valued at about $460,000. Czech National Bank boosted its stake in Analog Devices by 6.5% in the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock worth $22,871,000 after buying an additional 6,566 shares in the last quarter. Synergy Asset Management LLC grew its position in 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 during the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Analog Devices during the third quarter worth approximately $20,194,000. Finally, RFG Advisory LLC lifted its holdings in shares of Analog Devices by 3.9% in the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock worth $440,000 after acquiring an additional 77 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on ADI shares. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Maxim Group assumed coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. UBS Group increased their target price on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Barclays decreased their price target on 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. Finally, Williams Trading set a $245.00 price objective on Analog Devices in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Down 3.5 %

NASDAQ:ADI opened at $201.56 on Monday. 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 firm’s 50-day moving average price is $216.51 and its 200-day moving average price is $219.49. 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. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10.

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. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the company earned $1.73 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business 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 represents a $3.96 annualized dividend and a yield of 1.96%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is 126.11%.

Analog Devices announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of the firm’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 completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,684 shares of company stock valued at $7,746,500. Insiders own 0.33% of the company’s stock.

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.