Comerica Bank Decreases Position in Analog Devices, Inc. (NASDAQ:ADI)

Comerica Bank lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,918 shares of the semiconductor company's stock after selling 4,223 shares during the quarter. Comerica Bank's holdings in Analog Devices were worth $31,427,000 as of its most recent filing with the Securities and Exchange Commission.

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Several other hedge funds have also modified their holdings of ADI. Vanguard Group Inc. raised its holdings in shares of Analog Devices by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after purchasing an additional 413,084 shares in the last quarter. Geode Capital Management LLC raised its stake in Analog Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after buying an additional 247,737 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock worth $2,169,689,000 after buying an additional 1,189,940 shares during the last quarter. Norges Bank acquired a new position in shares of Analog Devices during the 4th quarter worth about $1,755,958,000. Finally, FMR LLC increased its holdings in shares of Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock valued at $1,582,831,000 after acquiring an additional 61,390 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the transaction, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,809 shares of company stock valued at $6,154,756. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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ADI has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. Benchmark increased their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Oppenheimer reissued an "outperform" rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their target price on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $250.43.

Get Our Latest Analysis on Analog Devices

Analog Devices Trading Up 1.2 %

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NASDAQ:ADI opened at $194.92 on Thursday. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock has a fifty day moving average price of $200.39 and a two-hundred day moving average price of $212.07. The stock has a market capitalization of $96.68 billion, a price-to-earnings ratio of 62.08, a PEG ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (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 business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm posted $1.73 EPS. The business's revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.03%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is currently 126.11%.

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.

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