Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 8.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,847 shares of the semiconductor company’s stock after acquiring an additional 397 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Analog Devices were worth $962,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ADI. Massachusetts Financial Services Co. MA grew its stake in Analog Devices by 22.0% during 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 acquiring an additional 2,497,696 shares in the last quarter. Nordea Investment Management AB grew its stake in Analog Devices by 639.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after acquiring an additional 1,486,180 shares in the last quarter. International Assets Investment Management LLC grew its stake in Analog Devices by 20,527.8% during the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock valued at $1,857,060,000 after acquiring an additional 930,732 shares in the last quarter. Alecta Tjanstepension Omsesidigt grew its stake in Analog Devices by 193.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock valued at $233,308,000 after acquiring an additional 775,000 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Analog Devices by 7.5% during the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after acquiring an additional 701,367 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 1.9 %

Shares of NASDAQ:ADI traded up $3.62 during trading hours on Tuesday, reaching $189.93. The stock had a trading volume of 4,175,059 shares, compared to its average volume of 3,358,335. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $204.20. The firm’s 50 day moving average is $192.77 and its 200-day moving average is $186.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The stock has a market capitalization of $94.19 billion, a price-to-earnings ratio of 33.98, a P/E/G ratio of 4.60 and a beta of 1.17.

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

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.94%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is currently 65.83%.

Insider Buying and Selling

In related news, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, 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 completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock worth $4,825,113 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a research note on Thursday, February 22nd. KeyCorp boosted their target price on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Evercore ISI assumed coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, Sanford C. Bernstein lowered shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price on the stock. in a report on Thursday, January 4th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices 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.