108,227 Shares in Analog Devices, Inc. (NASDAQ:ADI) Acquired by Meridiem Capital Partners LP

Meridiem Capital Partners LP purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 108,227 shares of the semiconductor company’s stock, valued at approximately $22,994,000. Analog Devices comprises about 2.0% of Meridiem Capital Partners LP’s holdings, making the stock its 21st largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Broderick Brian C increased its position in shares of Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock worth $16,831,000 after acquiring an additional 2,017 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of Analog Devices in the 4th quarter valued at about $10,212,000. Curbstone Financial Management Corp bought a new position in shares of Analog Devices in the 4th quarter valued at about $460,000. Czech National Bank grew its position in shares of Analog Devices by 6.5% in the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after acquiring an additional 6,566 shares during the period. Finally, Synergy Asset Management LLC lifted its stake in shares of Analog Devices by 11.1% during the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after buying an additional 2,554 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This represents a 22.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,934 shares of company stock valued at $8,735,156. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

ADI has been the subject of a number of research reports. Maxim Group initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Morgan Stanley set a $214.00 price objective on shares of Analog Devices in a research note on Monday, April 21st. JPMorgan Chase & Co. lifted 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. Stifel Nicolaus dropped their price objective on shares of Analog Devices from $275.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Lake Street Capital assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $250.19.

Analog Devices Trading Up 7.5%

Shares of NASDAQ ADI opened at $223.15 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The firm has a 50 day moving average price of $195.91 and a two-hundred day moving average price of $210.40. The stock has a market cap of $110.68 billion, a P/E ratio of 71.07, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company posted $1.73 EPS. The company’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS 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 outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. 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 1.77%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

About Analog Devices

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.