CANADA LIFE ASSURANCE Co Grows Holdings in Analog Devices, Inc. (NASDAQ:ADI)

CANADA LIFE ASSURANCE Co grew its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 513,111 shares of the semiconductor company's stock after buying an additional 30,353 shares during the period. CANADA LIFE ASSURANCE Co owned 0.10% of Analog Devices worth $108,958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADI. Midwest Professional Planners LTD. increased its stake in shares of Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after purchasing an additional 53 shares during the period. Portland Global Advisors LLC boosted its position in shares of Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after acquiring an additional 53 shares during the period. NTV Asset Management LLC increased its position in Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after acquiring an additional 54 shares during the period. West Oak Capital LLC raised its stake in Analog Devices by 0.4% in the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock worth $2,658,000 after purchasing an additional 55 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its position in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ADI. Morgan Stanley increased their price target on Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Williams Trading set a $245.00 price target on Analog Devices in a research note on Friday, February 14th. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Citigroup reduced their price target on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Maxim Group initiated coverage on Analog Devices in a research note on Friday, February 14th. They set a "buy" rating for the company. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus price target of $252.14.

Analog Devices Trading Up 1.9 %

Shares of ADI traded up $3.35 during trading hours on Tuesday, hitting $178.34. 1,207,598 shares of the stock were exchanged, compared to its average volume of 3,452,616. The firm has a market capitalization of $88.45 billion, a P/E ratio of 56.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The business has a 50-day moving average of $205.40 and a 200-day moving average of $213.78.

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

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 2.22%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the transaction, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,809 shares of company stock worth $6,154,756. Company insiders own 0.33% of the company's stock.

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.