Forsta AP Fonden Has $23.35 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Forsta AP Fonden decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.6% during the 4th quarter, HoldingsChannel reports. The fund owned 109,900 shares of the semiconductor company’s stock after selling 4,100 shares during the period. Forsta AP Fonden’s holdings in Analog Devices were worth $23,349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ADI. Capital Performance Advisors LLP bought a new stake in Analog Devices in the 3rd quarter valued at $28,000. Archer Investment Corp raised its position in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Analog Devices in the third quarter valued at about $43,000. Reston Wealth Management LLC acquired a new stake in Analog Devices during the third quarter worth about $48,000. Finally, Northwest Investment Counselors LLC bought a new position in Analog Devices during the third quarter valued at about $80,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In related news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $11,029,300 over the last 90 days. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Wells Fargo & Company started coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Morgan Stanley reduced their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

Analog Devices Stock Performance

Analog Devices stock opened at $209.52 on Wednesday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The stock has a 50-day simple moving average of $216.52 and a 200 day simple moving average of $221.75. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $103.95 billion, a price-to-earnings ratio of 63.68, a P/E/G ratio of 2.57 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.01 earnings per share. On average, research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.76%. Analog Devices’s payout ratio is currently 111.85%.

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.