Analog Devices, Inc. (NASDAQ:ADI) is Hemenway Trust Co LLC’s 10th Largest Position

Hemenway Trust Co LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,968 shares of the semiconductor company’s stock after selling 496 shares during the period. Analog Devices makes up 3.2% of Hemenway Trust Co LLC’s portfolio, making the stock its 10th biggest position. Hemenway Trust Co LLC’s holdings in Analog Devices were worth $39,511,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Midwest Professional Planners LTD. increased its position in shares of Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock valued at $1,975,000 after purchasing an additional 53 shares during the last quarter. Portland Global Advisors LLC boosted its stake in Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock worth $853,000 after buying an additional 53 shares during the period. NTV Asset Management LLC increased its position in Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after acquiring an additional 54 shares during the last quarter. West Oak Capital LLC raised its stake in shares of Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after acquiring an additional 55 shares during the period. Finally, Cassady Schiller Wealth Management LLC lifted its holdings in shares of Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 55 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Down 9.0 %

NASDAQ ADI opened at $164.60 on Friday. Analog Devices, Inc. has a 52 week low of $164.14 and a 52 week high of $247.10. The company has a 50 day moving average price of $213.22 and a 200 day moving average price of $218.36. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a market cap of $81.64 billion, a PE ratio of 52.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06.

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

Analog Devices announced that its board has authorized a share buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Insider Buying and Selling

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,684 shares of company stock worth $5,591,600 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Benchmark increased their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Maxim Group began coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. UBS Group upped their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company lifted their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $255.41.

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.