Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by EDENTREE ASSET MANAGEMENT Ltd

EDENTREE ASSET MANAGEMENT Ltd decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 30.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,065 shares of the semiconductor company's stock after selling 14,451 shares during the quarter. Analog Devices accounts for approximately 2.0% of EDENTREE ASSET MANAGEMENT Ltd's portfolio, making the stock its 23rd largest position. EDENTREE ASSET MANAGEMENT Ltd's holdings in Analog Devices were worth $7,025,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC purchased a new position in Analog Devices in the fourth quarter worth about $27,000. Novem Group bought a new stake in Analog Devices in the 4th quarter worth approximately $164,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Analog Devices by 14.8% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 95,077 shares of the semiconductor company's stock valued at $20,200,000 after acquiring an additional 12,277 shares during the period. Note Advisors LLC purchased a new stake in shares of Analog Devices in the 4th quarter worth $245,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 worth $708,260,000 after purchasing an additional 668,023 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock worth $8,735,156 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ADI shares. Citigroup increased their price target on Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Cantor Fitzgerald boosted their price target on Analog Devices from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Lake Street Capital started coverage on Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Barclays increased their price target on Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Benchmark reiterated a "buy" rating and issued a $260.00 price target (down from $275.00) on shares of Analog Devices in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.63.

Analog Devices Stock Up 3.2%

Shares of NASDAQ ADI traded up $6.65 during midday trading on Tuesday, hitting $217.12. The stock had a trading volume of 1,268,461 shares, compared to its average volume of 3,508,744. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a market cap of $107.69 billion, a P/E ratio of 69.22, a PEG ratio of 2.85 and a beta of 0.98. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The business's 50 day moving average is $197.67 and its 200-day moving average is $210.03.

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 during 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 company'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 earnings per share. As a group, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its board has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.82%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

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.