Fiera Capital Corp Sells 118,038 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Fiera Capital Corp reduced its stake in Analog Devices, Inc. by 16.5%, owning approximately 0.12% of the company, worth $120.6 million after selling 118,038 shares.
• China Universal Asset Management raised its stake in Analog Devices by 284.4%, and institutional investors now hold 86.81% of the company's stock.
• Analog Devices reported a strong earnings performance with $1.85 EPS, surpassing analyst expectations, and announced a quarterly dividend of $0.99 per share, yielding 1.72%.

Fiera Capital Corp lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 16.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 597,895 shares of the semiconductor company's stock after selling 118,038 shares during the quarter. Fiera Capital Corp owned 0.12% of Analog Devices worth $120,577,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC bought a new stake in shares of Analog Devices in 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 bought a new stake in Analog Devices during the first quarter worth $27,000. North Capital Inc. bought a new stake in Analog Devices during the first quarter worth $36,000. Finally, Wolff Wiese Magana LLC raised its position in Analog Devices by 209.8% during the first quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

ADI has been the topic of several analyst reports. Morgan Stanley dropped their price target 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. Evercore ISI upped their price target on shares of Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Noble Financial raised shares of Analog Devices to an "outperform" rating in a research report on Wednesday, June 18th. KGI Securities initiated coverage on shares of Analog Devices in a research report on Friday, May 23rd. They set a "buy" rating on the stock. Finally, Piper Sandler dropped their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Six equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $258.89.

Analog Devices Price Performance

Analog Devices stock traded down $3.29 during trading hours on Friday, reaching $221.35. 1,823,536 shares of the stock were exchanged, compared to its average volume of 3,977,604. The company has a market cap of $109.84 billion, a P/E ratio of 60.30, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.73. The stock has a 50 day moving average of $231.31 and a two-hundred day moving average of $215.61.

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

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.8%. Analog Devices's dividend payout ratio is 107.90%.

Insider Activity at Analog Devices

In other 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 value of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.33% of the company's stock.

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.