Farallon Capital Management LLC Has $245.86 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Farallon Capital Management LLC lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 21.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,157,200 shares of the semiconductor company’s stock after selling 314,900 shares during the quarter. Analog Devices accounts for about 1.2% of Farallon Capital Management LLC’s portfolio, making the stock its 27th biggest position. Farallon Capital Management LLC owned about 0.23% of Analog Devices worth $245,859,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices in the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. acquired a new position in Analog Devices during the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC grew its stake in shares of Analog Devices by 63.2% during 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 in the last quarter. Financial Life Planners acquired a new position in Analog Devices during the fourth quarter worth $33,000. Finally, Kestra Investment Management LLC bought a new stake in Analog Devices during the 4th quarter worth about $41,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

ADI stock opened at $202.78 on Friday. The company’s 50-day moving average price is $196.41 and its two-hundred day moving average price is $210.81. The firm has a market cap of $100.57 billion, a P/E ratio of 64.58, a P/E/G ratio of 2.85 and a beta of 0.98. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. On average, analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share 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 buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.95%. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Insider Buying and Selling at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the transaction, the director now directly owns 180,071 shares of the company’s stock, valued at approximately $35,265,104.64. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock worth $8,735,156 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ADI shares. Maxim Group began coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Lake Street Capital began coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Seaport Res Ptn upgraded shares of Analog Devices to a “strong sell” rating in a report on Wednesday, April 30th. Finally, Barclays cut their price target on shares of Analog Devices from $240.00 to $170.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $250.43.

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.