Primecap Management Co. CA Has $726.08 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Primecap Management Co. CA cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,656,705 shares of the semiconductor company’s stock after selling 46,080 shares during the quarter. Primecap Management Co. CA owned approximately 0.74% of Analog Devices worth $726,075,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Analog Devices by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after purchasing an additional 21,522 shares during the last quarter. CTC Alternative Strategies Ltd. acquired a new position in shares of Analog Devices during the fourth quarter worth $1,152,000. Sequoia Financial Advisors LLC lifted its stake in shares of Analog Devices by 107.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after acquiring an additional 6,564 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of Analog Devices by 37.5% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after acquiring an additional 2,215 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Analog Devices by 4.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after acquiring an additional 4,516 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 0.9 %

Analog Devices stock traded down $2.05 during midday trading on Friday, reaching $232.51. The stock had a trading volume of 4,543,302 shares, compared to its average volume of 3,382,594. The company has a fifty day moving average price of $200.67 and a two-hundred day moving average price of $193.49. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $241.88. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $115.38 billion, a P/E ratio of 54.32, a PEG ratio of 6.03 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the company posted $2.83 earnings per share. The company’s quarterly revenue was down 33.8% on a year-over-year basis. As a group, equities analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, June 4th. Analog Devices’s payout ratio is presently 85.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ADI shares. Citigroup lifted their price target on Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI assumed coverage on shares of Analog Devices in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target for the company. Susquehanna lifted their price target on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Morgan Stanley boosted their price objective on shares of Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday. Seven 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.42.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $10,057,745.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 in the last quarter. Insiders own 0.31% of the company’s stock.

About Analog Devices

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.