AGF Management Ltd. Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

AGF Management Ltd. lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 10.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 353,944 shares of the semiconductor company’s stock after selling 41,036 shares during the quarter. AGF Management Ltd.’s holdings in Analog Devices were worth $80,791,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its position in shares of Analog Devices by 3.9% during the 4th quarter. International Assets Investment Management LLC now owns 4,710 shares of the semiconductor company’s stock worth $935,000 after buying an additional 176 shares during the last quarter. 9258 Wealth Management LLC boosted its stake in Analog Devices by 3.9% in the fourth quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock valued at $444,000 after acquiring an additional 85 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of Analog Devices by 7.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 9,630 shares of the semiconductor company’s stock worth $1,912,000 after purchasing an additional 675 shares in the last quarter. Quotient Wealth Partners LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $316,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Analog Devices by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after buying an additional 21,522 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Up 0.1 %

Analog Devices stock opened at $218.72 on Wednesday. The stock’s 50 day moving average price is $225.06 and its 200 day moving average price is $214.50. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The company has a market cap of $108.53 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 3.55 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the company earned $2.49 earnings per share. Analog Devices’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 business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.68%. Analog Devices’s payout ratio is currently 85.98%.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward H. Frank sold 500 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,107 shares of company stock worth $11,301,610. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. The Goldman Sachs Group upped their price target on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley increased their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. KeyCorp lifted their price objective on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Susquehanna upped their target price on shares of Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a report on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.45.

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.