Bank of Montreal Can Has $194.99 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Bank of Montreal Can lifted its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 45.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 917,764 shares of the semiconductor company's stock after buying an additional 284,965 shares during the period. Bank of Montreal Can owned about 0.18% of Analog Devices worth $194,988,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ADI. United Bank lifted its holdings in shares of Analog Devices by 4.7% during the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company's stock worth $1,394,000 after acquiring an additional 273 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Analog Devices by 3.0% during the third quarter. Integrated Wealth Concepts LLC now owns 4,030 shares of the semiconductor company's stock worth $927,000 after purchasing an additional 118 shares during the period. Wellington Management Group LLP boosted its holdings in Analog Devices by 16.6% during the third quarter. Wellington Management Group LLP now owns 43,349 shares of the semiconductor company's stock valued at $9,978,000 after purchasing an additional 6,164 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Analog Devices by 8.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 5,401 shares of the semiconductor company's stock worth $1,243,000 after buying an additional 418 shares in the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Analog Devices by 5.2% during the 3rd quarter. MML Investors Services LLC now owns 75,324 shares of the semiconductor company's stock worth $17,337,000 after buying an additional 3,691 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

ADI has been the subject of a number of analyst reports. Maxim Group started coverage on Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Morgan Stanley upped their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their price target on Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. Truist Financial increased their target price on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.73.

Analog Devices Trading Up 0.4 %

NASDAQ:ADI traded up $0.80 during mid-day trading on Friday, hitting $179.16. The company had a trading volume of 6,528,835 shares, compared to its average volume of 3,445,145. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The firm has a market cap of $88.86 billion, a P/E ratio of 57.06, a P/E/G ratio of 2.85 and a beta of 1.06. The business's fifty day moving average is $208.90 and its two-hundred day moving average is $215.92. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10.

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

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's payout ratio is 126.11%.

Analog Devices announced that its board has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,684 shares of company stock valued at $5,591,600. 0.33% of the stock is owned by corporate insiders.

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.