Alberta Investment Management Corp Has $6.18 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Alberta Investment Management Corp reduced its stake in Analog Devices, Inc. by 51.9%, owning 30,649 shares after selling 33,026 shares in the first quarter.
• Analyst ratings for Analog Devices show a consensus of "Moderate Buy", with most analysts setting target prices above $200.
• The company reported $1.85 EPS for the last quarter, exceeding expectations, and experienced a 22.3% year-over-year revenue increase.

Alberta Investment Management Corp trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 51.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,649 shares of the semiconductor company's stock after selling 33,026 shares during the period. Alberta Investment Management Corp's holdings in Analog Devices were worth $6,181,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ADI. FMR LLC grew its stake in Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock valued at $1,582,831,000 after buying an additional 61,390 shares during the last quarter. Northern Trust Corp boosted 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 valued at $1,173,026,000 after acquiring an additional 427,328 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Analog Devices by 5.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,715,313 shares of the semiconductor company's stock valued at $789,356,000 after acquiring an additional 181,309 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Analog Devices by 25.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company's stock valued at $708,260,000 after purchasing an additional 668,023 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Analog Devices by 9.0% during the 4th quarter. Nuveen Asset Management LLC now owns 3,221,053 shares of the semiconductor company's stock valued at $684,345,000 after purchasing an additional 266,532 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the sale, the director directly owned 167,571 shares in the company, valued at $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by insiders.

Analog Devices Stock Performance

NASDAQ ADI traded up $0.69 on Monday, hitting $222.40. 2,847,623 shares of the stock were exchanged, compared to its average volume of 3,454,398. 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 business's fifty day moving average is $231.54 and its 200 day moving average is $215.64. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.73. The company has a market capitalization of $110.37 billion, a PE ratio of 60.60, a P/E/G ratio of 2.04 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company's revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 earnings per share. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio is presently 107.90%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ADI shares. Cowen reissued a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Cantor Fitzgerald raised shares of Analog Devices from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $250.00 to $270.00 in a report on Wednesday, June 18th. Wells Fargo & Company set a $235.00 target price on shares of Analog Devices and gave the stock an "equal weight" rating in a research note on Monday, June 16th. TD Cowen boosted their target price on shares of Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, KGI Securities assumed coverage on shares of Analog Devices in a research note on Friday, May 23rd. They issued a "buy" rating for the company. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $258.89.

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.