Foresight Global Investors Inc. Decreases Position in Analog Devices, Inc. (NASDAQ:ADI)

Foresight Global Investors Inc. decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 24.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,426 shares of the semiconductor company’s stock after selling 2,109 shares during the quarter. Analog Devices comprises 0.7% of Foresight Global Investors Inc.’s portfolio, making the stock its 22nd biggest holding. Foresight Global Investors Inc.’s holdings in Analog Devices were worth $1,276,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADI. Verdence Capital Advisors LLC raised its stake in Analog Devices by 8.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 5,639 shares of the semiconductor company’s stock worth $987,000 after acquiring an additional 455 shares during the last quarter. Brighton Jones LLC lifted its stake in Analog Devices by 9.2% during the 3rd quarter. Brighton Jones LLC now owns 2,385 shares of the semiconductor company’s stock worth $418,000 after acquiring an additional 200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Analog Devices by 7.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 804,367 shares of the semiconductor company’s stock valued at $140,837,000 after acquiring an additional 53,945 shares in the last quarter. Chemung Canal Trust Co. lifted its stake in Analog Devices by 7.0% in the third quarter. Chemung Canal Trust Co. now owns 21,432 shares of the semiconductor company’s stock worth $3,753,000 after acquiring an additional 1,411 shares during the last quarter. Finally, Advisor Partners II LLC boosted its position in shares of Analog Devices by 1.0% during the 3rd quarter. Advisor Partners II LLC now owns 18,597 shares of the semiconductor company’s stock worth $3,256,000 after acquiring an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ADI. Evercore ISI initiated coverage on Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Morgan Stanley reissued an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a report on Thursday, April 11th. Barclays boosted their target price on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Finally, Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a research note on Thursday, January 18th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.17.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,057,745.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock valued at $4,874,613 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

NASDAQ:ADI traded down $0.07 during trading hours on Thursday, hitting $204.79. 2,941,773 shares of the company traded hands, compared to its average volume of 3,326,513. The firm has a 50-day moving average of $195.19 and a 200 day moving average of $189.00. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $205.77. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $101.56 billion, a price-to-earnings ratio of 36.64, a P/E/G ratio of 5.01 and a beta of 1.14.

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.80%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is presently 65.83%.

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.