Toronto Dominion Bank Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)

Toronto Dominion Bank lifted its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,891 shares of the semiconductor company's stock after buying an additional 26,155 shares during the quarter. Toronto Dominion Bank owned approximately 0.06% of Analog Devices worth $63,714,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Broderick Brian C raised its holdings in shares of Analog Devices by 2.6% in the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after acquiring an additional 2,017 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in Analog Devices in the fourth quarter valued at approximately $10,212,000. Curbstone Financial Management Corp purchased a new stake in Analog Devices in the fourth quarter valued at approximately $460,000. Synergy Asset Management LLC lifted its position in Analog Devices by 11.1% during the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock valued at $5,404,000 after purchasing an additional 2,554 shares during the last quarter. Finally, RFG Advisory LLC grew its stake in Analog Devices by 3.9% in the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company's stock worth $440,000 after buying an additional 77 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Down 1.0%

Shares of Analog Devices stock traded down $2.27 during trading on Wednesday, reaching $222.22. 5,084,834 shares of the stock were exchanged, compared to its average volume of 3,526,119. 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 firm has a market cap of $110.22 billion, a price-to-earnings ratio of 70.77, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The stock's fifty day moving average is $197.36 and its 200 day moving average is $210.42.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business's revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.73 EPS. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has initiated a share repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADI. Wells Fargo & Company raised their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. Citigroup lifted their price target on Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday. Morgan Stanley set a $214.00 price objective on Analog Devices in a research report on Monday, April 21st. JPMorgan Chase & Co. raised their price objective on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Lake Street Capital initiated coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $252.35.

Insider Activity

In related news, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,934 shares of company stock valued at $8,735,156. 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.