MGO One Seven LLC Grows Stake in Analog Devices, Inc. (NASDAQ:ADI)

MGO One Seven LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,492 shares of the semiconductor company’s stock after purchasing an additional 87 shares during the quarter. MGO One Seven LLC’s holdings in Analog Devices were worth $742,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Alta Advisers Ltd grew its position in shares of Analog Devices by 16.9% in the 4th quarter. Alta Advisers Ltd now owns 1,636 shares of the semiconductor company’s stock valued at $348,000 after buying an additional 236 shares during the last quarter. Manchester Global Management UK Ltd grew its holdings in shares of Analog Devices by 28.6% during the fourth quarter. Manchester Global Management UK Ltd now owns 248,524 shares of the semiconductor company’s stock worth $52,801,000 after purchasing an additional 55,253 shares during the last quarter. Nippon Life Global Investors Americas Inc. increased its position in shares of Analog Devices by 22.5% during the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 4,140 shares of the semiconductor company’s stock worth $880,000 after purchasing an additional 760 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Analog Devices by 0.5% in the 4th quarter. Stifel Financial Corp now owns 803,884 shares of the semiconductor company’s stock valued at $170,807,000 after purchasing an additional 4,098 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its position in shares of Analog Devices by 1.1% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 278,204 shares of the semiconductor company’s stock valued at $59,107,000 after purchasing an additional 3,069 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on 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 sale, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,809 shares of company stock worth $6,154,756. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ADI shares. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Citigroup reduced their target price on shares of Analog Devices from $265.00 to $235.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Stifel Nicolaus lowered their price target on Analog Devices from $275.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $250.43.

Analog Devices Stock Performance

NASDAQ:ADI opened at $194.59 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The firm’s fifty day simple moving average is $203.25 and its 200-day simple moving average is $212.73. The stock has a market cap of $96.51 billion, a PE ratio of 61.97, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. 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 buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.04%. Analog Devices’s payout ratio is currently 126.11%.

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.