Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,161 shares of the semiconductor company’s stock after purchasing an additional 1,934 shares during the period. iA Global Asset Management Inc.’s holdings in Analog Devices were worth $9,328,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pinnacle Associates Ltd. raised its holdings in Analog Devices by 0.6% in the fourth quarter. Pinnacle Associates Ltd. now owns 17,195 shares of the semiconductor company’s stock valued at $3,414,000 after acquiring an additional 102 shares in the last quarter. Argus Investors Counsel Inc. increased its stake in Analog Devices by 28.3% during the fourth quarter. Argus Investors Counsel Inc. now owns 12,511 shares of the semiconductor company’s stock valued at $2,484,000 after purchasing an additional 2,757 shares during the last quarter. Silverlake Wealth Management LLC bought a new stake in Analog Devices during the fourth quarter valued at $211,000. Prio Wealth Limited Partnership increased its stake in Analog Devices by 34.6% during the fourth quarter. Prio Wealth Limited Partnership now owns 3,963 shares of the semiconductor company’s stock valued at $787,000 after purchasing an additional 1,019 shares during the last quarter. Finally, Pinnacle Financial Partners Inc grew its position in shares of Analog Devices by 9.1% during the fourth quarter. Pinnacle Financial Partners Inc now owns 2,489 shares of the semiconductor company’s stock worth $494,000 after acquiring an additional 207 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the transaction, the chief accounting officer now owns 10,547 shares in the company, valued at $2,495,209.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Michael Sondel sold 4,830 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the sale, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The disclosure for this sale can be found here. Insiders have sold a total of 36,642 shares of company stock worth $8,510,743 over the last 90 days. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 5.4 %

NASDAQ:ADI traded down $12.46 during mid-day trading on Thursday, reaching $218.92. The stock had a trading volume of 5,402,105 shares, compared to its average volume of 3,319,549. The business’s 50 day moving average is $232.20 and its 200 day moving average is $208.72. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The stock has a market cap of $108.63 billion, a P/E ratio of 52.66, a PEG ratio of 3.79 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company posted $2.83 earnings per share. The firm’s revenue was down 33.8% on a year-over-year basis. As a group, sell-side analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. Analog Devices’s dividend payout ratio is currently 85.98%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Bank of America increased their target price on shares of Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Sanford C. Bernstein increased their target price on shares of Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Barclays upped their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, Truist Financial upped their price target on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $245.50.

About Analog Devices

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.