Analog Devices, Inc. (NASDAQ:ADI) Holdings Cut by Carret Asset Management LLC

Carret Asset Management LLC decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 23.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,671 shares of the semiconductor company’s stock after selling 2,600 shares during the quarter. Carret Asset Management LLC’s holdings in Analog Devices were worth $1,722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amarillo National Bank increased its stake in shares of Analog Devices by 3.7% during the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock worth $300,000 after purchasing an additional 54 shares during the last quarter. Keystone Financial Services increased its stake in shares of Analog Devices by 1.8% during the 4th quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock worth $623,000 after purchasing an additional 55 shares during the last quarter. Ancora Advisors LLC increased its stake in shares of Analog Devices by 2.1% during the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 57 shares during the last quarter. Legacy Advisors LLC increased its stake in shares of Analog Devices by 2.3% during the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock worth $465,000 after purchasing an additional 59 shares during the last quarter. Finally, MRA Advisory Group increased its stake in shares of Analog Devices by 2.5% during the 3rd quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock worth $444,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 3.5 %

NASDAQ ADI traded up $6.57 during trading on Wednesday, reaching $196.50. 6,523,668 shares of the stock traded hands, compared to its average volume of 3,398,446. The firm has a market cap of $97.45 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 4.67 and a beta of 1.17. The stock’s 50-day moving average price is $192.77 and its 200 day moving average price is $186.93. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm posted $2.75 earnings per share. The business’s revenue was down 22.7% on a year-over-year basis. Analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s payout ratio is presently 65.83%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a filing with the SEC, which is available through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,707 shares of company stock worth $4,825,113. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Evercore ISI assumed coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price on the stock. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price on the stock in a research note on Thursday, January 18th. The Goldman Sachs Group raised their target price on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Sanford C. Bernstein lowered shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price on the stock. in a research note on Thursday, January 4th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a research note on Monday, March 4th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.17.

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.