BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,077 shares of the semiconductor company's stock after acquiring an additional 12,277 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Analog Devices were worth $20,200,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Analog Devices during the fourth quarter worth about $1,755,958,000. Raymond James Financial Inc. bought a new position in Analog Devices in the 4th quarter worth $833,386,000. Proficio Capital Partners LLC boosted its holdings in Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after acquiring an additional 3,059,349 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of Analog Devices by 301.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after purchasing an additional 1,186,981 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Analog Devices by 71.0% during the 4th quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock worth $458,683,000 after purchasing an additional 896,694 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on ADI shares. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Benchmark reissued a "buy" rating and set a $260.00 target price (down from $275.00) on shares of Analog Devices in a research report on Friday. Cowen restated a "buy" rating on shares of Analog Devices in a research note on Friday. Oppenheimer lifted their price objective on Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Barclays lifted their price objective on Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $248.63.

Analog Devices Price Performance

Shares of ADI traded up $6.83 during midday trading on Tuesday, hitting $217.30. 1,268,461 shares of the company traded hands, compared to its average volume of 3,508,715. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The firm has a market cap of $107.78 billion, a P/E ratio of 69.22, a PEG ratio of 2.85 and a beta of 0.98. 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 stock has a 50-day moving average of $197.67 and a 200-day moving average of $210.03.

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, topping the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 EPS. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business 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 $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Wednesday, June 4th. Analog Devices's dividend payout ratio is currently 107.90%.

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 purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock worth $8,735,156 over the last three months. 0.33% of the stock is owned by insiders.

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.