Northwest & Ethical Investments L.P. Has $8.14 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Northwest & Ethical Investments L.P. trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 25.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,334 shares of the semiconductor company's stock after selling 12,893 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Analog Devices were worth $8,144,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock valued at $623,399,000 after buying an additional 39,186 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock valued at $5,264,000 after acquiring an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp acquired a new position in Analog Devices during the 4th quarter worth $460,000. Czech National Bank increased its position in shares of Analog Devices by 6.5% in the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock worth $22,871,000 after purchasing an additional 6,566 shares during the last quarter. Finally, Synergy Asset Management LLC raised its stake in shares of Analog Devices by 11.1% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

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Insider Buying and Selling

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock valued at $5,082,860 over the last three months. Company insiders own 0.33% of the company's stock.

Analog Devices Price Performance

Shares of ADI stock traded up $1.24 during midday trading on Tuesday, reaching $213.58. 2,549,789 shares of the company were exchanged, compared to its average volume of 3,111,066. The company's 50 day moving average price is $217.16 and its two-hundred day moving average price is $219.78. The company has a market cap of $105.93 billion, a P/E ratio of 68.02, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.73 earnings per share. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its Board of Directors has initiated a share buyback 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 buy up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.85%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ADI shares. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Truist Financial boosted their price target on Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Wells Fargo & Company raised their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Finally, Piper Sandler dropped their target price on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and an average target price of $255.41.

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.