Harvest Fund Management Co. Ltd Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

Harvest Fund Management Co. Ltd increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 27.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,208 shares of the semiconductor company’s stock after buying an additional 6,338 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Analog Devices were worth $5,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in ADI. State Street Corp boosted its holdings in Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after purchasing an additional 106,664 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Analog Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after purchasing an additional 135,838 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. FMR LLC boosted its holdings in Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after purchasing an additional 665,149 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Analog Devices by 4.8% in the fourth quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock valued at $1,058,364,000 after purchasing an additional 226,716 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by insiders.

Analog Devices Stock Down 1.2 %

ADI opened at $209.16 on Wednesday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. 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 company has a 50-day moving average price of $217.83 and a 200 day moving average price of $220.22. The company 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.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 EPS. Sell-side analysts expect 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 stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication 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. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.89%. Analog Devices’s dividend payout ratio is presently 126.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ADI shares. Wells Fargo & Company upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. TD Cowen lowered their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Morgan Stanley upped their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Barclays decreased their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average 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.