AGF Management Ltd. Has $121.24 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• AGF Management Ltd. has increased its holdings in Analog Devices by 20.3% during Q1, acquiring an additional 101,493 shares, bringing its total to 601,176 shares valued at approximately $121.24 million.
• Analog Devices reported a quarterly earnings per share (EPS) of $1.85, exceeding analysts' expectations of $1.70, and generating revenue of $2.64 billion, up 22.3% compared to the same period last year.
• The company declared a quarterly dividend of $0.99 per share, reflecting a 1.8% dividend yield, with a payout ratio of 107.90%.

AGF Management Ltd. increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 20.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 601,176 shares of the semiconductor company's stock after acquiring an additional 101,493 shares during the period. AGF Management Ltd. owned about 0.12% of Analog Devices worth $121,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ADI. Orion Capital Management LLC acquired a new position in Analog Devices during the fourth quarter worth $27,000. Menard Financial Group LLC acquired a new position in Analog Devices during the fourth quarter worth $27,000. Alpine Bank Wealth Management acquired a new position in Analog Devices during the first quarter worth $27,000. N.E.W. Advisory Services LLC acquired a new position in Analog Devices during the first quarter worth $33,000. Finally, North Capital Inc. acquired a new position in Analog Devices during the first quarter worth $36,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded down $4.74 during trading on Friday, reaching $231.47. The stock had a trading volume of 1,816,593 shares, compared to its average volume of 3,928,998. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.73. The business's 50-day moving average price is $233.51 and its 200 day moving average price is $216.09. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The stock has a market capitalization of $114.87 billion, a PE ratio of 63.15, a P/E/G ratio of 2.19 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. Analog Devices's quarterly revenue was up 22.3% compared to the same quarter last year. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares in the company, valued at $40,088,010.33. The trade was a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADI. Morgan Stanley lowered their target price on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. KeyCorp raised their price target on Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Cantor Fitzgerald raised Analog Devices from a "neutral" rating to an "overweight" rating and raised their price target for the company from $250.00 to $270.00 in a research report on Wednesday, June 18th. Wells Fargo & Company set a $235.00 price target on Analog Devices and gave the company an "equal weight" rating in a research report on Monday, June 16th. Finally, Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Six investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.89.

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.