OneDigital Investment Advisors LLC Cuts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

OneDigital Investment Advisors LLC lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 34.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,240 shares of the semiconductor company’s stock after selling 3,801 shares during the period. OneDigital Investment Advisors LLC’s holdings in Analog Devices were worth $1,538,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ADI. Stifel Financial Corp boosted its stake in Analog Devices by 0.5% in the fourth quarter. Stifel Financial Corp now owns 803,884 shares of the semiconductor company’s stock valued at $170,807,000 after acquiring an additional 4,098 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. grew its stake in Analog Devices by 1.1% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 278,204 shares of the semiconductor company’s stock worth $59,107,000 after buying an additional 3,069 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in Analog Devices by 7.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,923 shares of the semiconductor company’s stock valued at $1,471,000 after buying an additional 497 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Analog Devices by 68.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 53,948 shares of the semiconductor company’s stock valued at $11,462,000 after buying an additional 21,873 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in Analog Devices by 4.4% in the fourth quarter. MML Investors Services LLC now owns 78,612 shares of the semiconductor company’s stock worth $16,702,000 after acquiring an additional 3,288 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 6.6 %

Analog Devices stock opened at $195.23 on Friday. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The stock has a market capitalization of $96.83 billion, a PE ratio of 62.18, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. 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 business has a 50 day simple moving average of $203.77 and a 200-day simple moving average of $213.11.

Analog Devices (NASDAQ:ADI) last posted 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 company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed 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 positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is 126.11%.

Analog Devices declared that its board has authorized a share buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently commented on ADI. Barclays decreased their price objective on shares of Analog Devices from $240.00 to $170.00 and set an “equal weight” rating for the company in a research report on Tuesday. Benchmark raised their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus dropped their price objective on shares of Analog Devices from $275.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. raised their target price on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Citigroup dropped their price target on Analog Devices from $265.00 to $235.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $250.43.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction dated 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 represents a 22.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction that occurred 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 approximately $33,576,907.41. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,809 shares of company stock valued at $6,154,756 over the last quarter. 0.33% of the stock is currently owned by insiders.

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.