TD Asset Management Inc Raises Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

TD Asset Management Inc boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 455,100 shares of the semiconductor company’s stock after buying an additional 18,964 shares during the period. TD Asset Management Inc owned approximately 0.09% of Analog Devices worth $103,881,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. GPM Growth Investors Inc. purchased a new stake in Analog Devices during the 2nd quarter valued at $7,981,000. Consolidated Planning Corp raised its holdings in Analog Devices by 41.8% during the 2nd quarter. Consolidated Planning Corp now owns 1,728 shares of the semiconductor company’s stock valued at $394,000 after buying an additional 509 shares during the period. Strategy Asset Managers LLC raised its holdings in Analog Devices by 12.2% during the 2nd quarter. Strategy Asset Managers LLC now owns 1,852 shares of the semiconductor company’s stock valued at $423,000 after buying an additional 201 shares during the period. Foundations Investment Advisors LLC raised its holdings in Analog Devices by 22.4% during the 2nd quarter. Foundations Investment Advisors LLC now owns 1,844 shares of the semiconductor company’s stock valued at $421,000 after buying an additional 337 shares during the period. Finally, Simon Quick Advisors LLC grew its position in Analog Devices by 4.3% in the 2nd quarter. Simon Quick Advisors LLC now owns 1,444 shares of the semiconductor company’s stock valued at $330,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 1.2 %

Shares of Analog Devices stock opened at $219.06 on Friday. The firm’s 50 day moving average price is $225.68 and its 200-day moving average price is $213.63. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a market cap of $108.70 billion, a P/E ratio of 51.18, a PEG ratio of 3.91 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the firm earned $2.49 EPS. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. On average, sell-side analysts predict that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 in the company, valued at approximately $11,570,541.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The disclosure for this sale can be found here. Insiders have sold a total of 49,107 shares of company stock valued at $11,301,610 in the last 90 days. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Stifel Nicolaus upped their price objective on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Jefferies Financial Group assumed coverage on Analog Devices in a research report on Monday, May 13th. They issued a “buy” rating and a $250.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $251.45.

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.