Capital International Inc. CA Trims Stake in Analog Devices, Inc. (NASDAQ:ADI)

Capital International Inc. CA lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,208 shares of the semiconductor company’s stock after selling 427 shares during the period. Capital International Inc. CA’s holdings in Analog Devices were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ADI. Curi RMB Capital LLC increased its stake in Analog Devices by 45.9% in the 4th quarter. Curi RMB Capital LLC now owns 109,555 shares of the semiconductor company’s stock worth $23,276,000 after buying an additional 34,486 shares during the period. Dnca Finance grew its stake in Analog Devices by 317.0% in the 4th quarter. Dnca Finance now owns 41,700 shares of the semiconductor company’s stock worth $8,860,000 after acquiring an additional 31,700 shares in the last quarter. GeoWealth Management LLC increased its position in shares of Analog Devices by 11.5% during the fourth quarter. GeoWealth Management LLC now owns 3,433 shares of the semiconductor company’s stock worth $729,000 after acquiring an additional 354 shares during the period. Alpha DNA Investment Management LLC raised its stake in shares of Analog Devices by 149.9% during the fourth quarter. Alpha DNA Investment Management LLC now owns 21,470 shares of the semiconductor company’s stock valued at $4,562,000 after acquiring an additional 12,879 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Analog Devices by 6.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 513,111 shares of the semiconductor company’s stock valued at $108,958,000 after purchasing an additional 30,353 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $176.27 on Monday. The company has a 50 day moving average price of $206.00 and a 200 day moving average price of $214.15. The firm has a market capitalization of $87.43 billion, a P/E ratio of 56.14, a PEG ratio of 2.85 and a beta of 1.06. 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.

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

Analog Devices Increases Dividend

The company also recently declared 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 represents a $3.96 annualized dividend and a yield of 2.25%. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices announced that its board has approved a stock repurchase 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 purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

ADI has been the topic of several research reports. Benchmark raised their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus decreased their price objective on Analog Devices from $275.00 to $225.00 and set a “buy” rating for the company in a report on Thursday. Oppenheimer reiterated an “outperform” rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Finally, Barclays lowered 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. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.05.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This represents a 13.35 % 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, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction 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 $9,066,750. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,809 shares of company stock valued at $6,154,756. Company insiders own 0.33% of the company’s stock.

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.