Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,517 shares of the semiconductor company's stock after buying an additional 7,996 shares during the quarter. Analog Devices makes up 1.6% of Investment Management Corp of Ontario's portfolio, making the stock its 12th largest position. Investment Management Corp of Ontario's holdings in Analog Devices were worth $48,763,000 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. Midwest Professional Planners LTD. boosted its holdings in shares of Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after buying an additional 53 shares in the last quarter. Portland Global Advisors LLC boosted its stake in Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after acquiring an additional 53 shares in the last quarter. NTV Asset Management LLC grew its holdings in shares of Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after purchasing an additional 54 shares during the last quarter. West Oak Capital LLC grew its holdings in shares of Analog Devices by 0.4% during the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock worth $2,658,000 after purchasing an additional 55 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC increased its position in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADI has been the topic of a number of research reports. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. UBS Group decreased their target price on shares of Analog Devices from $300.00 to $295.00 and set a "buy" rating for the company in a research note on Monday. Finally, Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and a consensus price target of $250.20.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at $13,575,652.16. The trade was a 13.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business's 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 transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock valued at $8,735,156 over the last 90 days. Insiders own 0.33% of the company's stock.

Analog Devices Price Performance

Shares of ADI traded up $0.14 during mid-day trading on Wednesday, reaching $226.82. 4,648,348 shares of the company's stock were exchanged, compared to its average volume of 3,513,024. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The company has a market cap of $112.50 billion, a price-to-earnings ratio of 72.24, a PEG ratio of 2.85 and a beta of 0.98. The company has a 50-day simple moving average of $196.01 and a two-hundred day simple moving average of $210.63.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the business posted $1.73 earnings per share. Analog Devices's revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

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 paid a dividend of $0.99 per share. This is a boost from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

Analog Devices declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.