Harvest Fund Management Co. Ltd Buys 6,338 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Harvest Fund Management Co. Ltd raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 27.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,208 shares of the semiconductor company’s stock after purchasing an additional 6,338 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Analog Devices were worth $5,783,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares during the last quarter. Curbstone Financial Management Corp bought a new position in shares of Analog Devices in the 4th quarter valued at about $460,000. Czech National Bank lifted its holdings in shares of Analog Devices by 6.5% in the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after acquiring an additional 6,566 shares during the last quarter. Synergy Asset Management LLC lifted its holdings in shares of Analog Devices by 11.1% in the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after acquiring an additional 2,554 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Analog Devices in the 3rd quarter valued at about $20,194,000. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ADI shares. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. UBS Group increased their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Benchmark increased their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $209.16 on Wednesday. The firm has a market cap of $103.74 billion, a PE ratio of 66.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The firm’s 50 day simple moving average is $217.83 and its 200-day simple moving average is $220.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.89%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by insiders.

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.