iA Global Asset Management Inc. Increases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

iA Global Asset Management Inc. grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,063 shares of the semiconductor company's stock after purchasing an additional 2,881 shares during the period. iA Global Asset Management Inc.'s holdings in Analog Devices were worth $11,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp grew its position in shares of Analog Devices by 0.5% in the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company's stock worth $5,195,302,000 after buying an additional 106,664 shares during the period. Geode Capital Management LLC increased its stake in shares of Analog Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company's stock valued at $2,377,094,000 after purchasing an additional 135,838 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares in the last quarter. FMR LLC boosted its position in shares of Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company's stock worth $1,700,640,000 after purchasing an additional 665,149 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Analog Devices by 4.8% in the fourth quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company's stock worth $1,058,364,000 after acquiring an additional 226,716 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

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Analog Devices Stock Performance

ADI traded up $7.94 during midday trading on Monday, reaching $212.34. The company had a trading volume of 3,457,578 shares, compared to its average volume of 3,112,189. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company has a market cap of $105.32 billion, a P/E ratio of 67.62, a P/E/G ratio of 2.85 and a beta of 1.07. The business has a 50-day moving average of $217.16 and a two-hundred day moving average of $219.78.

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 (EPS) for the quarter, topping 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 company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the firm posted $1.73 EPS. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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 issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.86%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is currently 126.11%.

Analog Devices announced that its Board of Directors 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 purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ADI shares. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. Piper Sandler cut their price target 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. UBS Group raised their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating on the stock. Finally, Benchmark increased their target price on Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $255.41.

Insiders Place Their Bets

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were 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 trade represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was 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 disclosure for this sale can be found here. In the last quarter, insiders sold 24,000 shares of company stock worth $5,082,860. Corporate insiders own 0.33% of the company's stock.

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.