Shelton Capital Management Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Shelton Capital Management trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 63,000 shares of the semiconductor company’s stock after selling 426 shares during the period. Shelton Capital Management’s holdings in Analog Devices were worth $13,385,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Analog Devices in the fourth quarter worth about $1,755,958,000. Raymond James Financial Inc. purchased a new position in shares of Analog Devices during the fourth quarter worth approximately $833,386,000. Proficio Capital Partners LLC raised its stake in shares of 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 valued at $652,943,000 after acquiring an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of 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 period. Finally, Madison Investment Advisors LLC bought a new position in Analog Devices in the fourth quarter worth approximately $111,470,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Performance

Shares of ADI stock opened at $171.34 on Tuesday. The business has a fifty day moving average of $212.34 and a 200 day moving average of $217.84. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm has a market capitalization of $84.98 billion, a price-to-earnings ratio of 54.57, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06.

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

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 2.31%. Analog Devices’s payout ratio is currently 126.11%.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the firm’s 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 owns 43,175 shares in the company, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,684 shares of company stock valued at $5,591,600. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

ADI has been the subject of a number of research analyst reports. Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. 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 note on Thursday, February 20th. Benchmark raised their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

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.