Janus Henderson Group PLC Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Janus Henderson Group PLC trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI) by 40.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,041,502 shares of the semiconductor company’s stock after selling 702,046 shares during the period. Janus Henderson Group PLC’s holdings in Analog Devices were worth $221,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the 4th quarter valued at about $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices in the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC boosted its position in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 55 shares during the period. Financial Life Planners purchased a new stake in Analog Devices in the 4th quarter valued at about $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices in the 4th quarter valued at about $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The shares were 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 directly owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock worth $8,735,156 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Oppenheimer restated an “outperform” rating and issued a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Wells Fargo & Company boosted 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. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Finally, Citigroup reduced their price target on shares of Analog Devices from $265.00 to $235.00 and set a “buy” rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $250.43.

Analog Devices Trading Up 2.3%

Shares of Analog Devices stock opened at $207.51 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.43 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. The firm has a market capitalization of $102.92 billion, a price-to-earnings ratio of 66.09, a PEG ratio of 2.85 and a beta of 0.98. The firm’s 50 day simple moving average is $196.04 and its two-hundred day simple moving average is $210.45.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share. Analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid 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 1.91%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is presently 126.11%.

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.