People s United Financial Inc. cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.5% during the 3rd quarter, Holdings Channel reports. The fund owned 39,504 shares of the semiconductor company’s stock after selling 994 shares during the period. People s United Financial Inc.’s holdings in Analog Devices were worth $3,652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. American Century Companies Inc. lifted its position in Analog Devices by 138.1% during the third quarter. American Century Companies Inc. now owns 2,314,874 shares of the semiconductor company’s stock valued at $214,033,000 after buying an additional 1,342,492 shares in the last quarter. Morgan Stanley lifted its position in Analog Devices by 19.9% during the second quarter. Morgan Stanley now owns 7,076,283 shares of the semiconductor company’s stock valued at $678,754,000 after buying an additional 1,172,933 shares in the last quarter. Millennium Management LLC lifted its position in Analog Devices by 69.0% during the second quarter. Millennium Management LLC now owns 1,783,441 shares of the semiconductor company’s stock valued at $171,068,000 after buying an additional 728,032 shares in the last quarter. Prudential Financial Inc. lifted its position in Analog Devices by 80.7% during the third quarter. Prudential Financial Inc. now owns 1,498,869 shares of the semiconductor company’s stock valued at $138,585,000 after buying an additional 669,400 shares in the last quarter. Finally, FIL Ltd lifted its position in Analog Devices by 153.7% during the third quarter. FIL Ltd now owns 989,032 shares of the semiconductor company’s stock valued at $91,446,000 after buying an additional 599,149 shares in the last quarter. 89.57% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ ADI opened at $87.73 on Thursday. Analog Devices, Inc. has a 52 week low of $76.62 and a 52 week high of $103.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.50. The firm has a market cap of $33.48 billion, a PE ratio of 14.77, a PEG ratio of 1.33 and a beta of 1.27.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 20th. The semiconductor company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Analog Devices had a net margin of 24.12% and a return on equity of 20.88%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 earnings per share. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 5.5 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Thursday, November 29th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.19%. Analog Devices’s dividend payout ratio (DPR) is presently 32.32%.

Analog Devices announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Monday, November 19th. Stifel Nicolaus lifted their price target on shares of Analog Devices from $108.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Summit Insights raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. BMO Capital Markets reaffirmed a “buy” rating and set a $107.00 price target on shares of Analog Devices in a research report on Monday, August 20th. Finally, SunTrust Banks reduced their price target on shares of Analog Devices to $106.00 and set a “buy” rating on the stock in a research report on Sunday, November 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. Analog Devices has an average rating of “Hold” and a consensus target price of $100.52.

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $85.00, for a total value of $850,000.00. Following the completion of the sale, the chief executive officer now owns 27,376 shares in the company, valued at $2,326,960. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Margaret K. Seif sold 2,700 shares of Analog Devices stock in a transaction on Monday, October 1st. The stock was sold at an average price of $92.81, for a total transaction of $250,587.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,800 shares of company stock valued at $4,601,096. Insiders own 1.10% of the company’s stock.

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About Analog Devices

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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