Envestnet Portfolio Solutions Inc. Has $15.19 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Envestnet Portfolio Solutions Inc. lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 71,471 shares of the semiconductor company’s stock after selling 1,478 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Analog Devices were worth $15,185,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices during the 4th quarter worth $30,000. Mainstream Capital Management LLC bought a new position in Analog Devices during the fourth quarter valued at about $30,000. Financial Life Planners acquired a new stake in shares of Analog Devices in the fourth quarter worth about $33,000. Peterson Financial Group Inc. bought a new stake in shares of Analog Devices during the 3rd quarter worth about $43,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Analog Devices during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $208.75 on Monday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a fifty day moving average price of $218.09 and a two-hundred day moving average price of $220.53. The firm has a market capitalization of $103.53 billion, a P/E ratio of 66.48, a P/E/G ratio of 2.85 and a beta of 1.07.

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

Analog Devices declared that its Board of Directors has initiated a share buyback 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 repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.90%. Analog Devices’s payout ratio is presently 126.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADI. Benchmark upped their target price on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on shares of 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 reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Morgan Stanley raised their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

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.