Mackenzie Financial Corp Purchases 46,539 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Mackenzie Financial Corp increased its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 741,899 shares of the semiconductor company's stock after acquiring an additional 46,539 shares during the quarter. Mackenzie Financial Corp owned about 0.15% of Analog Devices worth $157,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in Analog Devices in the fourth quarter worth $27,000. Mainstream Capital Management LLC bought a new position in Analog Devices in the fourth quarter worth $30,000. Hopwood Financial Services Inc. bought a new position in Analog Devices in the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC raised its holdings in Analog Devices by 63.2% in 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. Finally, Financial Life Planners bought a new position in Analog Devices in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

Shares of ADI stock traded down $1.27 during trading hours on Wednesday, reaching $215.62. 3,717,590 shares of the company traded hands, compared to its average volume of 3,530,055. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month 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 company has a market cap of $106.94 billion, a P/E ratio of 68.67, a P/E/G ratio of 2.85 and a beta of 0.98. The firm has a 50-day moving average price of $197.89 and a 200 day moving average price of $210.07.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the firm earned $1.40 EPS. The business's quarterly revenue was up 22.3% on a year-over-year basis. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has approved 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 a sign that the company's leadership believes its stock is undervalued.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Insider Activity at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 directly owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,934 shares of company stock valued at $8,735,156. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ADI has been the subject of a number of research reports. Maxim Group began coverage on Analog Devices in a report on Friday, February 14th. They issued a "buy" rating for the company. Williams Trading set a $260.00 price target on Analog Devices in a report on Friday, May 23rd. Evercore ISI raised their price target on Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. raised their price target on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, KGI Securities began coverage on Analog Devices in a report on Friday, May 23rd. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $248.63.

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.