Sterling Capital Management LLC Has $122.37 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Sterling Capital Management LLC lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 10.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 575,979 shares of the semiconductor company’s stock after selling 68,155 shares during the period. Analog Devices comprises about 1.7% of Sterling Capital Management LLC’s portfolio, making the stock its 11th biggest holding. Sterling Capital Management LLC owned about 0.12% of Analog Devices worth $122,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in Analog Devices during the 4th quarter worth $30,000. Hopwood Financial Services Inc. bought a new stake in shares of Analog Devices during the fourth quarter worth about $30,000. Cassady Schiller Wealth Management LLC increased its stake in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 55 shares during the period. Financial Life Planners bought a new position in Analog Devices in the 4th quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC acquired a new stake in Analog Devices during the 4th quarter worth approximately $41,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Down 9.3 %

NASDAQ ADI opened at $178.36 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 52 week low of $158.65 and a 52 week high of $247.10. The business has a 50 day moving average price of $209.43 and a 200-day moving average price of $216.37. The company has a market cap of $88.46 billion, a price-to-earnings ratio of 56.80, a P/E/G ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 2.22%. Analog Devices’s dividend payout ratio is currently 126.11%.

Analog Devices declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ADI shares. Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. UBS Group lifted their target price on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Wells Fargo & Company increased their price target on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Finally, Williams Trading set a $245.00 price objective on Analog Devices in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at $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 available at the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,684 shares of company stock valued at $5,591,600. 0.33% of the stock is 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.