Kesler Norman & Wride LLC Has $7.46 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Kesler Norman & Wride LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 35,129 shares of the semiconductor company’s stock after selling 784 shares during the period. Analog Devices makes up approximately 1.6% of Kesler Norman & Wride LLC’s holdings, making the stock its 13th largest position. Kesler Norman & Wride LLC’s holdings in Analog Devices were worth $7,464,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Analog Devices in the 4th quarter worth approximately $1,755,958,000. Raymond James Financial Inc. acquired a new stake in shares of Analog Devices in the fourth quarter worth $833,386,000. Proficio Capital Partners LLC increased its position in Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after acquiring an additional 3,059,349 shares during the period. Franklin Resources Inc. raised its stake in Analog Devices by 14.9% during the 3rd 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. Finally, Madison Investment Advisors LLC bought a new stake in Analog Devices in the 4th quarter valued at $111,470,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 1.2 %

Shares of ADI opened at $199.18 on Wednesday. The stock has a fifty day moving average price of $215.71 and a two-hundred day moving average price of $219.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market cap of $98.79 billion, a price-to-earnings ratio of 63.43, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion for 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%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. Analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analog Devices announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADI. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Williams Trading set a $245.00 price target on Analog Devices in a research note on Friday, February 14th. Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Wells Fargo & Company boosted their price objective on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Finally, Barclays reduced their target price on 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. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Buying and Selling

In related news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,684 shares of company stock worth $7,746,500 in the last quarter. Insiders own 0.33% of the company’s stock.

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.