Madison Asset Management LLC Reduces Stake in Analog Devices, Inc. $ADI

Madison Asset Management LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 378,575 shares of the semiconductor company’s stock after selling 27,491 shares during the quarter. Madison Asset Management LLC’s holdings in Analog Devices were worth $93,016,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Analog Devices during the second quarter worth $1,803,377,000. Marshall Wace LLP raised its position in shares of Analog Devices by 948.2% in the 2nd quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock worth $258,487,000 after acquiring an additional 982,385 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Analog Devices by 47.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,745,985 shares of the semiconductor company’s stock valued at $653,599,000 after buying an additional 882,909 shares during the last quarter. Vanguard Group Inc. grew its holdings in Analog Devices by 1.5% in the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after purchasing an additional 761,861 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Analog Devices by 684.6% in the third quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock valued at $211,871,000 after buying an additional 752,411 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. KeyCorp boosted their price objective on shares of Analog Devices from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Oppenheimer raised their target price on Analog Devices from $265.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. Wells Fargo & Company set a $340.00 price objective on shares of Analog Devices and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Barclays set a $315.00 price objective on Analog Devices in a report on Thursday, January 15th. Finally, Cfra reaffirmed a “buy” rating and issued a $280.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $314.22.

Analog Devices Price Performance

ADI stock opened at $325.16 on Wednesday. The company has a market capitalization of $158.88 billion, a PE ratio of 71.31, a P/E/G ratio of 1.75 and a beta of 1.03. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $327.74. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The business’s fifty day moving average price is $292.61 and its 200 day moving average price is $258.77.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 earnings per share. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, December 8th. Analog Devices’s payout ratio is 86.84%.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $317.30, for a total value of $991,562.50. Following the sale, the director directly owned 123,821 shares in the company, valued at $39,288,403.30. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the sale, the chief accounting officer directly owned 18,913 shares in the company, valued at approximately $5,258,381.39. The trade was a 30.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,544 shares of company stock valued at $15,320,417 over the last ninety days. Company insiders own 0.36% of the company’s stock.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.