Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Summit Financial LLC

Summit Financial LLC increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,208 shares of the semiconductor company’s stock after acquiring an additional 208 shares during the period. Summit Financial LLC’s holdings in Analog Devices were worth $3,868,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Midwest Professional Planners LTD. raised its position 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 worth $1,975,000 after acquiring an additional 53 shares during the last quarter. Portland Global Advisors LLC increased its stake 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 worth $853,000 after purchasing an additional 53 shares in the last quarter. NTV Asset Management LLC raised its position 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 purchasing an additional 54 shares during the last quarter. West Oak Capital LLC lifted its stake 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 valued at $2,658,000 after buying an additional 55 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its holdings in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 55 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred 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 sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % 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. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

NASDAQ:ADI opened at $201.67 on Tuesday. The firm’s fifty day simple moving average is $216.16 and its 200 day simple moving average is $219.35. 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 twelve month low of $182.57 and a twelve month high of $247.10. The firm has a market capitalization of $100.02 billion, a price-to-earnings ratio of 64.23, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued 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 return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ADI shares. Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. Wells Fargo & Company boosted their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Barclays decreased their price target on shares of 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. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Finally, Benchmark upped their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

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.