US Asset Management LLC Invests $1.17 Million in Analog Devices, Inc. (NASDAQ:ADI)

US Asset Management LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,894 shares of the semiconductor company’s stock, valued at approximately $1,170,000. Analog Devices accounts for approximately 1.2% of US Asset Management LLC’s holdings, making the stock its 17th biggest holding.

A number of other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after buying an additional 2,497,696 shares in the last quarter. Nordea Investment Management AB grew its holdings in Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after purchasing an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Analog Devices by 20,527.8% during the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after buying an additional 930,732 shares during the last quarter. Alecta Tjanstepension Omsesidigt grew its stake in Analog Devices by 193.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock valued at $233,308,000 after acquiring an additional 775,000 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Analog Devices by 7.5% during the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after purchasing an additional 701,367 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.8 %

Analog Devices stock traded up $1.69 during mid-day trading on Friday, reaching $206.48. The company’s stock had a trading volume of 1,128,245 shares, compared to its average volume of 3,301,675. The business’s 50 day simple moving average is $195.45 and its 200 day simple moving average is $189.11. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $207.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The company has a market capitalization of $102.40 billion, a price-to-earnings ratio of 36.94, a price-to-earnings-growth ratio of 5.01 and a beta of 1.14.

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

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is 65.83%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ADI shares. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a research note on Thursday, February 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a research note on Thursday, April 11th. The Goldman Sachs Group raised their price target on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. KeyCorp raised their target price on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Finally, Barclays boosted their price objective on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $208.17.

Insider Buying and Selling

In other news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is owned by insiders.

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.