OMERS ADMINISTRATION Corp Sells 241,003 Shares of Analog Devices, Inc. (NASDAQ:ADI)

OMERS ADMINISTRATION Corp cut its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 92.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,747 shares of the semiconductor company's stock after selling 241,003 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Analog Devices were worth $4,408,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock worth $10,432,961,000 after purchasing an additional 413,084 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Analog Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after purchasing an additional 247,737 shares in the last quarter. Norges Bank acquired a new stake in Analog Devices in the 4th quarter valued at approximately $1,755,958,000. FMR LLC increased its position in shares of Analog Devices by 0.8% during the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock worth $1,582,831,000 after purchasing an additional 61,390 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Analog Devices by 8.4% during the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock worth $1,173,026,000 after purchasing an additional 427,328 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares of the company's stock, valued at $10,441,928.04. This represents a 7.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at $13,575,652.16. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock valued at $8,735,156 in the last 90 days. 0.33% of the stock is owned by insiders.

Analog Devices Price Performance

Analog Devices stock traded down $1.19 during midday trading on Monday, reaching $225.93. 840,812 shares of the stock traded hands, compared to its average volume of 3,507,413. The stock's fifty day moving average is $196.58 and its 200-day moving average is $210.33. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The stock has a market cap of $112.05 billion, a P/E ratio of 71.87, a PEG ratio of 2.85 and a beta of 0.98. 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 (NASDAQ:ADI - Get Free Report) last issued its 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 company had revenue of $2.42 billion for the quarter, compared to analysts' expectations 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 period in the prior year, the business earned $1.73 EPS. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its board has initiated a stock buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Analog Devices Increases Dividend

The firm 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 1.75%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is currently 126.11%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADI shares. JPMorgan Chase & Co. boosted their price target on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Oppenheimer increased their price target on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday. Maxim Group initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a research note on Wednesday, April 30th. Finally, Citigroup reduced their price target on Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and a consensus target price of $249.95.

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.