Welch & Forbes LLC Has $5.76 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Welch & Forbes LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,995 shares of the semiconductor company’s stock after selling 630 shares during the period. Welch & Forbes LLC’s holdings in Analog Devices were worth $5,757,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Analog Devices by 22.0% in the 3rd 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 purchasing an additional 2,497,696 shares in the last quarter. Invesco Ltd. grew its holdings in Analog Devices by 7.5% in the third 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 period. Baillie Gifford & Co. increased its position in Analog Devices by 11.7% in the 4th quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock valued at $753,379,000 after buying an additional 397,753 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Analog Devices by 7.8% during the third quarter. The Manufacturers Life Insurance Company now owns 3,119,239 shares of the semiconductor company’s stock valued at $546,148,000 after buying an additional 225,048 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Analog Devices by 14.2% during the 4th quarter. Van ECK Associates Corp now owns 2,890,824 shares of the semiconductor company’s stock worth $574,002,000 after purchasing an additional 358,697 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Up 0.1 %

NASDAQ ADI traded up $0.25 on Tuesday, hitting $203.57. 3,276,572 shares of the stock were exchanged, compared to its average volume of 3,340,682. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $205.77. The company’s 50-day moving average price is $194.85 and its two-hundred day moving average price is $188.89. The company has a market capitalization of $100.95 billion, a price-to-earnings ratio of 36.42, a P/E/G ratio of 5.01 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the firm posted $2.75 EPS. The business’s quarterly revenue was down 22.7% on a year-over-year basis. Research analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.81%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is 65.83%.

Insider Activity

In related news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The stock was 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 owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,707 shares of company stock worth $4,874,613. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ADI. Evercore ISI initiated coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price for the company. The Goldman Sachs Group upped their price target on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. KeyCorp increased their price target on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Barclays boosted their target price on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a research note on Monday, March 4th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.17.

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.